COSCO Eyes Port of Limassol in Cyprus
By Aiswarya Lakshmi
January 29, 2016
After acquiring control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company (COSCO), is now bidding to run the port of Limassol on the island of Cyprus, in a bid to extend its reach in the Mediterranean Sea.
A total of 14 companies have submitted bids for the commercialisation of Limassol port, the Cypriot Ministry of Transport, Communications and Works announced.
Among the bids, six submissions were received for the container terminal, three for the marine services and five for the multipurpose terminal.
“The commercialisation project now enters its next phase of detailed review and evaluation of the submissions which is expected to last a few weeks,” the Ministry said.
COSCO is one of the six bidders for the port's container terminal and one of five vying for the multipurpose terminal, according to the source. Another three companies have placed bids to run a marine services concession, the Ministry of Transport, Communications and Works said.
COSCO's interest in the Limassol port came after it was declared the preferred, and only, bidder for a controlling stake in Piraeus Port, Greece's biggest harbor, and one of the largest in the Mediterranean.
Limassol Port is the largest and principal seaport in Cyprus. The port is the largest and busiest harbor on the island, capable of handling vessels with maximum length of 250.00 m and maximum draft of 14.00 m.
