Commercial services at Limassol port on track to privatisation

Commercial services at Limassol port on track to privatisation

The commercial services at Limassol port are on track towards privatisation, according to the Communications and Works Minister Marios Demetriades.

Demetriades, who visited Limassol on Friday, said that the process which will lead to the privatisation of the services at the island`s main port has begun with a view to be concluded by the end of the year.

“We are not talking about selling an asset of the government but about outsourcing and through this process we want to increase significantly the economic activity of the port”, he noted.

The Minister said the government has a draft plan about the services that would be privatised, but no final decision has been made.

He also stressed that there should be no concern about security issues, as those are the responsibility of the state.

Demetriades underlined that shipping accounts for 6% to 7% of Cyprus` GDP and that it is important to the island`s economy.

“It has not been affected by the crisis and has the potential to contribute much more to the economy. We should find ways to increase that contribution” he noted.