With the first stage completed as schedule, the process
now
moves to the next phase, due
diligence
The first phase of the international tender for the concession of the
commercial activities at the Port of Limassol has been concluded with the
participation of a number of well-respected companies from the global ports
industry. The interest shown on behalf of these companies was equally strong for
all three assets, which are subject to concession.
At the start of the second phase of this process, Mr Marios Demetriades,
Minister of Transport, Communications and Works, said:
“The significant initial submissions we have in our hands show the
genuine interest of the international community towards Cyprus, as well as the
growth potential the Port of Limassol has, following the conclusion of this bold
overhaul project. We still have a long way to go, with a lot of hard work in a
limited amount of time. We are ready to support all the interested parties,
which will participate in the due diligence phase. And so the vision of a
competitive port that enhances commercial activity and transfers efficiency
gains to the customer can be put into practice”.
Commenting on the progress achieved so far, in terms of the
reorganization of the Cyprus Port Authority, the Permanent Secretary of the
Ministry and Chairman of the Authority, Mr Alecos Michaelides, said:
“Along with the successful completion of the first phase for
commercializing the Limassol Port, the Authority moves towards the new era
rapidly. Equipped with an enhanced supervisory and regulatory roles and tools,
the Authority is now able to effectively monitor the contractor and safeguard
the interests of the Cypriot people.
The goal is to conclude the selection process within the first quarter of
2016. The commercialization of the port is a project of great strategic
importance, for it will improve the Port's competitiveness in the next -many-
decades, against a constantly changing international environment, and it will
eventually contribute to the revival of our national economy, by strengthening
our efforts for economic growth”.
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