Prequalification of 30 investors for CPA
6/10/2015 10:15
The countdown for the privatization of Limassol port began yesterday with the completion of the pre-selection process of 30 investors who are interested to take over the management of three of the port’s services.
The prequalification of interested investors began on August 10 and according to the schedule set by the cabinet, public services at the port should change hands by next March.
The privatization of the port includes three contracts for a corresponding number of services. They will be claimed by three of the investors who qualify for the next phase.
These services relate to the container terminal, marine services and special cargo terminal which includes the passenger hall terminal.
"The Limassol port privatization schedules are kept properly and the goal is to complete the process by March 2016," port authority president and general manager of the Ministry of Transport Alecos Michaelides told StockWatch.
He noted that the offer document and the concession agreement draft was sent to prequalified investors yesterday and initial consultations of technocrats of the ministry with representatives of the investors have begun.
The technocratic team of the ministry is supported by international advisory, accounting and legal firms.
The government refers to serious investors with considerable expertise in port management.
According to Mr. Michaelides, the next round of consultations is expected to begin in 15 days when the documents that will be given to investors will be finalized.
Investors’ bids should be presented until December.
The President of CPA said that consultations include visits of investors to the port where they will have the opportunity to submit comments, suggestions, even disagreements, which will be part of the contract they will possibly sign if they are selected.
Based on the government's action plan for the privatization of the port of Limassol the CPA will be maintained as a public organization, with the main purpose of exercising a supervisory / regulatory role, which will be reinforced.
The CPA, which because of the monopoly in ports is one of the few profitable semi-governmental organizations, is expected to record profits between € 15 mn - € 20 mn in 2015.
The prequalification of interested investors began on August 10 and according to the schedule set by the cabinet, public services at the port should change hands by next March.
The privatization of the port includes three contracts for a corresponding number of services. They will be claimed by three of the investors who qualify for the next phase.
These services relate to the container terminal, marine services and special cargo terminal which includes the passenger hall terminal.
"The Limassol port privatization schedules are kept properly and the goal is to complete the process by March 2016," port authority president and general manager of the Ministry of Transport Alecos Michaelides told StockWatch.
He noted that the offer document and the concession agreement draft was sent to prequalified investors yesterday and initial consultations of technocrats of the ministry with representatives of the investors have begun.
The technocratic team of the ministry is supported by international advisory, accounting and legal firms.
The government refers to serious investors with considerable expertise in port management.
According to Mr. Michaelides, the next round of consultations is expected to begin in 15 days when the documents that will be given to investors will be finalized.
Investors’ bids should be presented until December.
The President of CPA said that consultations include visits of investors to the port where they will have the opportunity to submit comments, suggestions, even disagreements, which will be part of the contract they will possibly sign if they are selected.
Based on the government's action plan for the privatization of the port of Limassol the CPA will be maintained as a public organization, with the main purpose of exercising a supervisory / regulatory role, which will be reinforced.
The CPA, which because of the monopoly in ports is one of the few profitable semi-governmental organizations, is expected to record profits between € 15 mn - € 20 mn in 2015.
3287.99
1275.09
