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Publish Date : 12-Jan-2016

From among those who showed interest in the privatisation of Limassol Port, 11 global giants have been shortlisted, and will submit final tenders on 21st Jan.

The port operators shortlist includes the sector's number one, three, five, six and nine ranking top players and indicates the potential the Port holds.

The port was recording losses a few years ago, but the government expects the new operator to raise profits to up to EUR 100 million, due to investments in infrastructure and superstructure upgrades, like modern equipment, better cranes, and berthing of larger vessels.

The port will be leased to a port operator. Licensing would be completed by Q1-2016. The Cyprus Ports Authority (CPA) will continue to be a public organisation and hold a supervisory role.

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