The Cyprus Ports Authority (CPA) has submitted a proposal for EU co-financing of the Vasilikos Port expansion project, aimed at transforming it into a new industrial port under its management.

According to an announcement by the Ministry of Transport, Communications, and Works, the application was filed on Tuesday, January 21, following a recent decision by the Cabinet. The proposal targets funding from the "Connecting Europe Facility" (CEF) programme, which supports projects related to the infrastructure of the Trans-European Transport Network.

The expansion involves the construction of nine new berths with a total length of 2,355 meters, breakwaters, deepening of the access channel, and the utilization of land areas.

The goal is to increase the port's capacity to handle 1,772 ships annually at a total construction cost of €350 million in current prices. The project will be developed in phases, with the "Phase A" costing €85 million, for which a funding request of €38.5 million has been made to the competitive CEF fund.

According to the Ministry, a sustainability and necessity study for the project highlights its significant importance, aligning with EU standards for green energy, promising a positive impact for the Republic of Cyprus, given Vasilikos Port's strategically vital location.