- Goal: Develop a new industrial port managed by the Cyprus Ports Authority (CPA).
- Cost: Estimated construction at €350 million.
- Funding Request: Proposal submitted for €38.5 million in EU co-funding under Connecting Europe Facility (CEF).
- Capacity Boost: Post-expansion can accommodate nearly 1,772 vessels annually.
- Design Highlights: Nine berths totalling 2,355 meters, wave breakers, channel dredging, and land development.
- Strategic Benefits: Aligns with EU green energy standards and boosts Cyprus’s strategic position.
The Department of Transport, Communications, and Works has officially announced plans to advance the Port of Vasilikos into a modern industrial hub operated under the jurisdiction of the Cyprus Ports Authority. To push the agenda forward, authorities submitted a co-funding application to the European Union under the CEF program on January 21, 2025. This initiative, part of the EU’s Trans-European Transport Network, focuses on improving critical infrastructure.
Ambitious Upgrade for Strategic Advantage
Plans for the port centre on a bold design that includes nine new berths stretching 2,355 meters. Additional work includes channel dredging, land use enhancements, and constructing wave breakers to handle diverse maritime operations efficiently. Planners project upgraded port capacity will handle up to 1,772 ships annually, a significant increase to meet regional shipping demands.
The project carries a hefty price tag of €350 million at today’s rates. Officials propose a phased construction approach. With an allocated budget of €85 million, Phase A currently seeks €38.5 million from the EU’s competitive funding pool.
Long-Term Regional Benefits
Located in a prime coastal area, the Port of Vasilikos holds an enviable strategic position for trade and industry. An in-depth feasibility study based on the European Union’s benchmarks in green energy confirmed the project’s necessity and benefits, including economic and environmental wins for Cyprus.
“The expansion reflects our commitment to sustainable development while addressing Cyprus’s growing industrial needs,” according to an announcement from the Ministry of Transport, Communications, and Works.
Limited port infrastructure has consistently been a challenge for Cyprus. This project aims to tackle the latter by establishing the Vasilikos site as a first-class industrial hub. Improved port facilities could also tie into solving broader logistical bottlenecks across the island. With such upgrades, Cyprus aims to excel regionally amidst increasing trade competition.
As the EU reviews the funding request, Cyprus awaits the green light that could help transform the port into a hub with modern facilities ready to meet future demands.