Limassol Port Privatization Plans Move Ahead

Cyprus House Plenary has passed a bill today to amend the legislation on the functioning of the Cyprus Ports Authority (CPA) that will enable privatization of Limassol port operations, the Cyprus Mail reports.

Under the bill, the assets of the state-owned port will be moved to private sector.

Now that the amendment has been passed a tender for the port’s privatization can be issued.

Cypriot government plans to remain the owner of the Limassol port infrastructure, but will hand over its commercial operation to a private business.

Under the tender, the Limassol port would be leased out to a private company for up to 30 years.

Terminal operators DP World and APM Terminals have already expressed interest in bidding for the lease.

The port’s workers have opposed the move, staging several strikes since the beginning of the year, as they fear it might cost them their jobs.

World Maritime News Staff

 

 

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