The Government of the Republic of Cyprus, through the Transport Ministry, has selected two consortia for the Limassol Port privatization.

The first consortium, composed of Germany’s EuroGate International, Cyprus’s Interorient Navigation Company and Luxembourg-based East Med Holdings, will operate the box terminal.

The second consortium, composed of DP World, its subsidiary P&O Maritime and Cyprus’ GAP Vassilopoulos, will operate the multipurpose terminal.

The concession contract for the two terminals are expected to have a period between 25 and 30 years. The other concession at the port includes the marine services and is expected to be for a period between 10 and 20 years.

The port has become the principal seaport in Cyprus. It is the largest and busiest harbour on the island, capable of handling vessels up to 250 m size for berthing in 14m of water.

The overall port area is estimated to be 1,5 million m² and currently services 100% of the container traffic, 40-50% of total cargo and 75% of the passenger traffic in Cyprus. 

It is expected that the opening of the Suez Canal extension will result in increased activity at the Limassol port, which lies at a strategic point in the eastern Mediterranean.