Cyprus plans to lease some of the Cyprus Ports Authority’s (CPA) commercial activities, Transport Minister Tasos Mitsopoulos said yesterday.
“The state will remain the owner of the Ports Authority. What is under discussion is a lease agreement for a specific period to a private investor for some of the Authority`s commercial activities, if there is interest,” Mistsopoulos said.
He was speaking after a meeting with the Limassol Chamber of Commerce and Industry on the government`s plans over the ports, shipping and public transport.
As part of the conditions for a €10 billion financial assistance granted by the EU and the IMF, Cyprus has undertaken a privatisations plan covering the Cyprus Telecommunications Authority, the Cyprus Electricity Authority and the CPA.
Mitsopoulos referred to plans to upgrade Limassol Port, such as extending the quay walls by 500 metres, the deepening of the basin, the construction of a new passenger terminal as well as the upgrading of the port`s technical equipment.
“Limassol port is currently Cyprus` predominant energy port and this should be clear,” he said, noting that important installations existed at the port.
“We want to maintain and develop even further this infrastructure because it is very important to assist companies operating in the energy field,” he added.