EuropePorts and Logistics

Cyprus picks Eurogate and DP World as Limassol terminal operators

Cyprus’ Transport Ministry has chosen two consortiums led by EuroGate International and DP World to run Limassol port’s container terminal and operate its multipurpose terminal respectively.

The box terminal is to be run jointly by Germany’s EuroGate International, Cyprus’s Interorient Navigation Company and Luxembourg-based East Med Holdings. China’s Cosco expressed interest in the tender but did not make it to the shortlist.

The second consortium, comprised of DP World, its subsidiary P&O Maritime and Cyprus’ GAP Vassilopoulos, will operate the port’s multipurpose terminal.

DP World and its partner GAP Vassilopoulos also won the tender to provide marine services at the port.

“We are very satisfied by the process conducted and the end result,” said Marios Demetriades, Cyprus’ minister of transport, communications and works.

The concessions for the container terminal and multi-purpose terminal are both expected to be awarded for 25-30 years, with a right to exploit and commercially develop the sites. The concession for marine services is expected to be for 10-20 years.

Fourteen offers were received in a tender for the commercialisation of Cyprus’ Limassol Port. Six offers were received for the port’s container terminal, three for marine services and five for the multipurpose terminal, Cyprus’ Ministry of Transport said previously.

Cyprus hopes to raise €1.4bn by 2018 by privatising several state enterprises, Limassol port being one of them, in order to pay down the €10bn bailout it received from the EU and IMF in 2013.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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