Sole remaining bidding team to submit final proposal for Cyprus port concession

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

The government of Cyprus has delivered the final tender documents to the sole remaining bidder for the privatisation of Larnaca port and marina. The bidding team, comprised of Israeli firms Ampa Ltd and Israel Shipyards Ltd., has until 5 October to submit a final bid to develop and manage the port and marina under a long-term lease.

Two other shortlisted bidders withdrew from the process. One withdrawal was due to a change in Chinese legislation that barred the company's participation. It is not known why the other company withdrew.

A key sticking point in the progress of the tender was a disputed ceiling cap on port cargo of 900 tonnes per year. Larnaca's current annual traffic is 2 million tonnes. Following protests by the Israeli team, the clause is thought to have been removed.

Should the deal be completed, the Israeli consortium is expected to invest EUR400 million (US$465 million) in the port. Plans include the construction of luxury homes along the Larnaca marina, in an attempt to attract high-income tourists.

Share this update