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Cypriot Investment Scheme
Repossession Property Yield Properties

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  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

  • 29 August 2019 Cyprus real estate market review 2018

    In its annual Cyprus real estate market review, PwC reports that the... read more

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

  • 29 August 2019 Cyprus real estate market review 2018

    In its annual Cyprus real estate market review, PwC reports that the... read more

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... 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.