35 EoIs accepted for Limassol port privatisation
A total of 35 expressions of interest have qualified for the three tenders with the aim of privatising the management and operation of Limassol port by mid-2016.
Cyprus Ports Authority Chairman and Ministry of Transport Permanent Secretary Alecos Michaelides said that 12 companies or joint ventures have been initially selected for the concession regarding the cargo terminal, ten for the inport marine services and 13 for the multi-purpose terminal.
In all, 33 companies have expressed interest but some companies had submitted bids for more than one concession.
Michaelides said the Ministry will now send out the tender documents and a draft contract for comment and the bidders will visit Limassol port.
Following the finalisation of the contract documents, the Ministry will call on the selected bidders to submit a final offer in December, with the highest bidder selected for each concession.
The process is expected to conclude in the first quarter of 2016 with the selection of the investor or investors, while the new port managers will operate in parallel with the CPA, probably for a transition period of 12 months.