35 EoIs ac­cepted for Li­mas­sol port pri­vati­sa­tion

Financial Mirror (Cyprus) - - FRONT PAGE -

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.

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