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Facilitating trade

DP World and the Government of the Republic of Cyprus recently signed two separate concession agreements for the commercialisation of activities within the Limassol Port in Cyprus

DP World Limassol has been awarded an exclusive 25-year concession to operate the multipurpose terminal at which operations include break-bulk, general cargo, roll-on/roll-off (ro-ro) and passenger terminal operations. 
Simultaneously, P&O Maritime Cyprus (a wholly-owned subsidiary of DP World Limited) received a 15-year concession to provide an exclusive range of port marine services including tugs and pilotage at the port of Limassol. Both concessions will be awarded to a joint venture between DP World and G.A.P. Vassilopoulos Public Limited, a logistics and services company, listed on the Cyprus Stock Exchange. 
Commenting on the venture, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: "We believe in the long-term prospects of Cyprus and the potential for DP World as a facilitator of trade to maximise the potential of Limassol Port. These new concessions will demonstrate DP World's ability to offer a range of port and maritime services, complementing our vision to be global leaders in world trade."

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