Recently, cabinet approved a proposal to acquire a €8.6m land near Vassilikos, in Limassol from UK to construct an industrial and energy port that could be used by the hydrocarbon industry.

The government has ready commissioned a study for the facility and the Ports Authority has announced tender competitions for the project, which is expected to be ready by 2020. The cost of the construction is estimated at €130m, not including landscaping and storage spaces. A proposal for European funding project has submitted because the port can also be used for transfer of natural gas in the country.

This decision is part of the government-integrated plan for port infrastructure and the wider policy of making Cyprus a regional infrastructure management centre. The construction of the port is a separate project to a possible liquefied natural gas terminal.

The news is collated by ChinaRubberFender.com – Marine Fender Supplier.