Cyprus & World News

CYPRUS: Eurogate investing €30 mln for port terminal upgrade

24 May, 2017

Eurogate, the terminal services provider at Limassol port, is investing EUR 30 mln to upgrade the facilities it took over in January when, together with DP World, the port changed hands and the state’s role was reduced to owner/regulator.

Yiannos Mouzouris said that from January 29 to the end of April, Eurogate recorded an 8% year-on-year increase vessel arrivals and containers moved, at 141 and 60,237, respectively, or 800 daily. Furthermore, 36,840 trucks were served moving a total of 58,387 containers, with the average service time for a truck reduced to 30 minutes.
The investments by Eurogate include 17 new straddle carriers, with two super post panamax cranes expected in 2018, while construction and improvement works are ongoing.
Finally, the technology upgrade is ongoing in order for the Limassol port to be streamlined with other Eurogate facilities around the world, with the company handling 15 mln containers in 12 terminals in Germany, Italy, Morocco, Portugal Russia and Cyprus. The group’s turnover is estimated at EUR 600 mln a year and employs 8,000 people worldwide.