Cyprus concessions

UAE-headquartered DP World and the Government of the Republic of Cyprus have entered into two separate concession agreements for the commercialisation of activities within Limassol port, Cyprus.

DP World Limassol has been awarded a 25 year concession for the exclusive right to operate the multipurpose terminal, whose activities include break-bulk, general cargo, ro-ro and the operation of the passenger terminal. Simultaneously, P&O Maritime Cyprus (a wholly-owned subsidiary of DP World Limited), has also been awarded a 15 year concession to exclusively provide a full range of port marine services including tugs and pilotage at the port of Limassol. 

Both concessions will be awarded to a joint venture between DP World and G.A.P. Vassilopoulos Public Limited, a logistics and services company, listed on the Cyprus Stock Exchange. DP World shall hold 75% of the share capital of each joint venture, as well as the management rights.

A transition phase will follow during which the current Cyprus Port Authority will continue to operate the port whilst DP World and P&O Maritime Services undertakes activities required to effect a smooth transition. The takeover date of both concessions is currently envisaged to be 29 January 2017.

By Jake Frith

Latest Press Releases

Concordia Damen ships 18 hulls from Shanghai to Rotterdam

On Monday, 17th June, heavy-lift vessel Black Marlin departed Shanghai. On deck with eighteen Concor... Read more

Damen Shipyards welcomes Mexican cadets and crew of the ARM Cuauhtémoc during Sail Scheveningen

Due to the port visit of the Mexican Sail Training Vessel ARM Cuauhtémoc to Scheveningen, the Nether... Read more

Keel laid for the first of Damen’s revolutionary new FCS 7011 Crew Change

Two and a half years on from the genesis of the FCS 7011 concept in response to extensive feedback f... Read more

First European conversion of a dredger to dual-fuel LNG / MGO departs Damen Shiprepair Dunkerque

First European conversion of a dredger to dual-fuel LNG / MGO departs Damen Shiprepair Dunkerque Read more

Damen Oskarshamnsvarvet Sweden achieves coveted AAA credit rating

Damen Oskarshamnsvarvet Sweden achieves coveted AAA credit rating Read more

Damen signs Phase II contract with International Organization for Migration

Damen signs Phase II contract with International Organization for Migration for nine additional SAR... Read more

View all