The European Investment Bank has announced it is considering a proposal from the Cyprus Organisation for Storage and Management of Oil Stocks (KODAP) to fund a new strategic storage terminal in Vasilikos, on the country's southern coast.
The ΕΙΒ said it would provide €30 million out of the total cost of €40 million. The project provides for the construction of a 210,000 tonne petroleum tank farm for Cyprus' strategic oil reserves.
Source: CNA
