The Ministry of Transport, Communications and Works announced three shortlisted consortiums for each of the three concessions as follows.

– EUROGATE International GmbH (majority participant), Interorient Navigation Company ltd and East Med Holdings SA for the Container Terminal.

– DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for Marine Services.

– DP World Limited (majority participant) and G.A.P Vassilopoulos Public Ltd for the Multi-purpose Terminal.

Eurogate is a German-based company while DP World is based in Dubai. China’s COSCO, which was one of the companies expressing interest, did not make it to the shortlist.

“We are very satisfied by the process conducted and the end result,” said Minister of Transport, Communications and Works Marios Demetriades.

“Through a transparent and demonstrably competitive procedure we have three operators with a detailed plan to develop the port operations for the development of the most commercial activities of the most important port in Cyprus. We will be in a position to elaborate further after the transaction is formally completed,” he added.

The process is expected to be officially completed in six weeks after finalisation of the concession agreements and approval by parliament.

The concession for the commercialisation of the port is in three parts: Container terminal, multi-purpose terminal and marine services.

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 concession for marine services is expected to be for 10-20 years with a right to operate in the waters at the port and for commercial development of marine services.

Source: InCyprus