January 9, 2012 [Famagusta Gazetta] - VTTI say the facility will be the most advanced oil storage terminal in the Mediterranean. When all three phases are complete the asset will offer capacity of 900,000 m³ across 43 tanks.
State radio quoted an official from the VTTI Company, which is running the project as saying that the building of the terminal will be preceded by the construction of an anchorage off the coast near Vassiliko, to facilitate the unloading of equipment.
According to the report, the official said around 1000 new jobs will be created during the construction period, which will last until 2014. Sixty permanent jobs for technical staff will also be created.
The official added that many international energy companies had already applied for the leasing of storage capacity, adding that the operation of the facility will add €16billion to public assets on an annual basis.
The first phase of the terminal will have 345,000 cubic metres of storage for gasoline, gas oil, jet fuel and fuel oil. In addition to serving as a regional trading hub, the terminal will be able to supply the domestic market in Cyprus with truck access to a loading rack.
The construction of an international energy terminal costing over €100 million is slated to begin within the next 60-days, with the creation of 1000 new jobs.
