DP World Awarded Limassol Port Concessions
DP World has been awarded a 25-year concession by the Cypriot government for the exclusive rights to operate Limassol port, the Dubai-based ports operator said on Monday.
Separately, it said that P&O Maritime Cyprus, a wholly-owned subsidiary of DP World, had been awarded a 15-year concession for exclusive provision of a range of port marine services, including tugs and pilotage at the port.
DP World said the concessions were granted in partnership with Cypriot company GAP Vassilopoulos Public, with the Dubai-based company owning 75 percent of the venture.
The start of the concessions is envisaged for Jan. 29 next year, the statement added.
(Reporting by Tom Arnold)
