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  • 15 July 2019 Larnaca new high rise tower projects

    In Larnaca, some 20 – 30 high-rise residential developments and hotels... read more

  • 27 June 2019 Home Saves homes but also sells them away

    On September 2, applications for the Home project will begin. Yesterday the... read more

  • 18 June 2019 Citizenship by Investment Property Fair in Beirut Lebanon

    On 13 and 14 June 2019 we took part, together with our legal team, in the... read more

  • 13 May 2019 Petrolina will move storage units by years end

    read more

  • 6 May 2019 Energy saving measures grant scheme

    There are opportunities for those living in Cyprus to the reduce their energy... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 15 July 2019 Larnaca new high rise tower projects

    In Larnaca, some 20 – 30 high-rise residential developments and hotels... read more

  • 27 June 2019 Home Saves homes but also sells them away

    On September 2, applications for the Home project will begin. Yesterday the... read more

  • 18 June 2019 Citizenship by Investment Property Fair in Beirut Lebanon

    On 13 and 14 June 2019 we took part, together with our legal team, in the... read more

  • 13 May 2019 Petrolina will move storage units by years end

    read more

  • 6 May 2019 Energy saving measures grant scheme

    There are opportunities for those living in Cyprus to the reduce their energy... 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.