Expressions of Interest sought for Cyprus port privatization

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Expressions of Interest sought for Cyprus port privatization

The Government of the Republic of Cyprus, through the Ministry of Transport, Communications and Works, has launched a request for expression of interest for the Limassol Port privatization.

 The overall port area is estimated to be 1,5 million m² and currently services 100% of the container traffic, 40-50% of total cargo and 75% of the passenger traffic in Cyprus. Three long-term contracts are available for commercial operation of:

  • container facilities,
  • a multipurpose terminal and
  • marine services.

Contracts shall be granted to three operators or a single consortium for all three.

The future development of part of the site to accommodate companies dealing with hydrocarbon exploration and storage is one of the future development projects which could be added to the port.

The Limassol Port is situated on the outskirts of the country's second main city in terms of population and economic significance. The port has become the principal seaport in Cyprus. It is the largest and busiest harbour on the island, capable of handling vessels up to 250m size for berthing in 14m of water. It is entered through an approach channel which is 15m deep and 150m wide between the ends of two breakwaters.

Interested parties must submit their expressions of interest on or before 17 July 2015. The shortlist is scheduled to be announced on 5 August and the final selection would be made in the first quarter of 2016.

The privatization of the main multifunctional port of Cyprus, is expected to aid the significant expansion and development of the port's operations and consequently result in a major financial boost to the Cypriot economy.

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