BUSINESS

Cyprus picks 2 consortiums to run Limassol port

TAGS: Cyprus

Cyprus on Thursday unveiled the names of two consortiums it has selected to run services at the Eastern Mediterranean island’s largest port of Limassol.

The first – comprising Germany’s EuroGate International, Cyprus’s Interorient Navigation Company and East Med Holdings, based in Luxembourg – will run the port’s container terminal.

Cyprus’s Transport Ministry said the second consortium – made of Dubai’s DP World, its subsidiary P&O Maritime and Cyprus’s GAP Vassilopoulos – will operate sea services and a multipurpose terminal at the port.

The announcement came as the country, which is poised to wrap up a three-year bailout program next month, looks to turn Limassol port into a regional player given its proximity to the Suez Canal, one of the world’s busiest shipping traffic routes.

[AP]

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