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CYPRUS: One bid received for old Limassol port, says CPA Chairman

06 August, 2014

The Cyprus Port Authority has received a single bid of €2.6 mn euro for the management of the old Limassol Port, which was revamped recently.

Alekos Michaelides, CPA Chairman, told CNA that the bid was received by a Cypriot investor who makes business in the US.

According to Michaelides, the bid will be assessed by a committee appointed by the Authority`s Board and it will be ratified by the Board, provided the tender`s conditions are met.

The CPA will sub-let the premises to the investor and collect a rent fee. The bidder offered €2.6 mn per year, while the tender set a minimum of €2.3m per year, CPA Chairman said.

He noted that the assessment of the bid should not take much time, as the CPA will try to conclude it until the end of August.

The investor will sign a 10-year contract, which could be extended for another 10 years, he added.

The old Limassol port premises -18 buildings covering 6,000 square meters- will feature cafeterias, restaurants and offices.