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    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

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    CYPRIOTS who own land in non-military areas inside the British Bases will be... read more

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    Fortunately, the government is proceeding with helpful measures in order for... read more

  • 26 May 2020 The elite are snapping up pandemic passports so they can escape to safer countries

    Millionaires are looking to escape to a safe country with good medical... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 9 July 2020 Cabinet extends town planning incentives

    THE CABINET on Wednesday decided to extend existing town planning incentives... read more

  • 23 June 2020 Historic deal allows property development in British Bases

    CYPRIOTS who own land in non-military areas inside the British Bases will be... read more

  • 9 June 2020 Cyprus beaches have the best water quality in the EU

    Cyprus had the highest proportion of bathing sites with excellent water... read more

  • 28 May 2020 Coronavirus Anastasiades outlines millions to be pumped into the economy updated

    Fortunately, the government is proceeding with helpful measures in order for... read more

  • 26 May 2020 The elite are snapping up pandemic passports so they can escape to safer countries

    Millionaires are looking to escape to a safe country with good medical... read more

Petrolina will move storage units by years end

   

Petrolina will relocate all its fuel storage facilities from Larnaca to its new terminal in Vasilikos, Limassol, by the end of the year, the company said on Thursday.

Following a guided tour of its premises in Vasilikos, Petrolina’s operations director Demetris Mavromichalos said that by January 1, 2020 the company will operate exclusively out of Vasilikos.

The company’s terminal would consist of 18 tanks of a total capacity of 113,000 cubic metres – 77,000 cubic metres more than currently stored in Larnaca.

Construction works at Vasilikos were expected to be completed by July, and in November or December the company would carry out a trial run on its new facilities.

Petrolina has purchased some 49,000 cubic metres of land at Vasilikos.

In June last year, energy minister Giorgos Lakkotrypis submitted a signed memorandum of understanding (MoU) to the cabinet between the government and six private companies for the removal from Larnaca of the fuel storage facilities.

According to the minister, a timetable had been fixed with a deadline of December 31, 2019 for moving the liquid fuels, and for the creation of LPG facilities by December 31, 2020.