December 13, 2012 [Financial Mirror] - The government of Cyprus has chosen Dutch company Vopak Oil EMEA as a strategic partner for the construction of an oil terminal in the south of the island.
Cyprus decided on Wednesday to launch negotiations with Dutch company Vopak Oil EMEA, which won the tender for the petroleum delivery and storage terminal at Vassiliko.
Speaking after the Council of Ministers meeting, government spokesman Stephanos Stephanou said the project was of great importance for the country’s economy and would promote Cyprus as a transit commercial centre.
Furthermore, he said, the terminal would solve the storage issue for petroleum reserves, as well as the issue of keeping strategic reserves.
Stephanou said that when the negotiations are completed, the Minister of Commerce, Industry and Tourism would take the issue back to the Council of Ministers for a final decision.
“We are now in the final stretch of the creation of a petroleum delivery and storage terminal,” he said, adding that a negotiating team has been appointed to carry out the negotiations.
