Port management company DP World Limassol and the Cyprus University of Technology (Tepak) on Wednesday announced that they signed a cooperation agreement during a special ceremony held at the university’s premises in Limassol.

The two sides signed a Memorandum of Understanding (MoU) to conduct joint research projects, exchange personnel, and implement small-scale ventures.

Moreover, DP World Limassol has also pledged to continue to make internships available to Tepak students and support their research projects.

The memorandum was signed by DP World Limassol CEO Nawaf Abdulla and Tepak rector Panayiotis Zaphiris.

DP World Limassol’s CEO Nawaf Abdulla explained that the MoU is in line with DP World’s commitment to have a positive impact on the local community.

“We are very excited to further strengthen our cooperation with TEPAK students and scientists. Over the past few years, we provided internships to students pursuing a degree in shipping or related fields with excellent results, with a number of them being offered permanent positions. It truly is an honour to be cooperating with such a reputable organisation, and we believe that we can both learn from one another,” Abdulla said.

“Furthermore, DP World’s sustainability strategy will continue to build on our success of providing opportunities to students through our industry, whilst expanding our focus areas to include three additional themes – access to education, skills for the future and industry exposure,” he added.

Meanwhile, Cyprus University of Technology rector professor Panayiotis Zaphiris expressed satisfaction over the agreement, noting that it will benefit both the company and the university.

“I am pleased to see that there are many areas of common interest where we can collaborate for the mutual benefit and progress of both sides, such as energy, shipping and technology. I would also like to thank DP World Limassol for the internship and employment opportunities it offers our students and graduates,” Zaphiris said.

“Our University attaches great importance to extroversion and the effective interconnection of its study programmes with the industry and the labour market. These two issues make up one of the main pillars of CUT’s strategic development plan,” he added.

Zaphiris concluded by stating that he is confident that this agreement “paves the way for joint actions and sets out the framework for enhanced cooperation between the two organisations to the benefit of the Cypriot economy and society”.