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Ports authority assessing Limassol harbour offer

Old Limassol harbour

THE CYPRUS Ports Authority (CPA) will begin assessing the one offer it has received for the commercial operation of the old Limassol port, and expects to reach a decision by month’s end.
Should the tender meet the tender’s terms and specifications, a contract would be awarded to the bidder, CPA head Alecos Michaelides told the Cyprus News Agency.
The old Limassol harbour has been reopened for business, following its extensive revamping. The CPA intends to sub-let the premises to investors and collect a rent fee, set at a minimum of €2.3m per year (not including VAT).
The tender is for a 10-year contract, with an option for a 10-year extension.
The premises at the old port – some 6,000 square meters – will feature cafeterias, restaurants, bars, shops and office space housed in 18 buildings.
The single tender received was submitted by a Cypriot with business activities in the United States, Michaelides said; the offer was for €2.6m a year.
The revamping of the old port – to make it suitable for commercial development – cost around €17.8m.
Known as the old Limassol port, the site used to be the city’s main port between its construction in 1956 up until the delivery of the new port in 1973. Its original foundations were laid during the British occupation of the island in the late 19th century.
With time, it changed from being a cargo and passenger terminal to its current use as a leisure, fishing boat and coast guard shelter.

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