Cyprus Mail

Phase one of sophisticated fuel terminal delivered

The government will seek to offer the land to oil and gas services companies

By George Psyllides

VTTV on Friday took delivery of phase one of its fuel terminal at Vassilikos that boasts a storage capacity of 544,000 cubic metres and a jetty, which can service 500 tankers a year.

The €300 million project “considered one of the most sophisticated and demanding construction projects that were ever completed in Cyprus and the wider region, by Cypriot companies,” was delivered by contractors J&P.

“We would like to thank J&P and its subcontractors, for completing successfully and with great professionalism such a difficult construction project”, adding, “We are proud about the fact that our project provided Cypriot companies with the opportunity to gain further specialisation and expertise that they can now apply in other parts of the world. This is a state-of-the-art project that is unique to the region and we expect that it will soon transform Cyprus into an oil trading hub,” managing Director of VTTV George Papanstasiou said

Construction of the terminal took 32 months and employed more than 800 workers.

“We would like to thank VTTV for the collaboration and for the opportunity to implement such a pioneering project for Cyprus, which required high-level specialisation and expertise.”

“J&P, having an abundance of experience in similarly sophisticated projects around the world, delivers today a project that is designed and constructed with the highest quality and technical specifications,” J&P General Manager of Efthyvoulos Iacovides said.

With the completion of the construction phase of the project, the operation system of the terminal will be tested with oil products, followed by the launch of the operational phase with the arrival of the first vessels which are expected during the next weeks.

The project includes an oil storage terminal with 28 tanks of 544,000 m³ storage capacity and a jetty with the capacity to service over 500 tank vessels per year.

The second phase of the Terminal, which is under evaluation, will include 13 additional tanks which will increase total capacity to 849,000 m³ and is expected to be completed in 2016.



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