Tag: Cruz


DP World, P&O Maritime to Operate Limassol Port


first_imgzoom The Limassol port privatization process has reached another milestone as the Government of the Republic of Cyprus signed contracts with the new operators of the port’s multipurpose terminal and port marine services.Namely, DP World and the government entered into two separate concession agreements for the commercialisation of activities within the port.DP World Limassol has been awarded a 25-year concession for the exclusive right to operate the multipurpose terminal, whose activities include break-bulk, general cargo, ro-ro and the operation of the passenger terminal, while P&O Maritime Cyprus, a wholly-owned subsidiary of DP World Limited, has been awarded a 15-year concession to provide a full range of port marine services including tugs and pilotage at the port.Both concessions will be awarded to a joint venture between DP World and G.A.P. Vassilopoulos Public Limited, a logistics and services company, listed on the Cyprus Stock Exchange.Under the agreements, DP World will hold 75 percent of the share capital of each joint venture, as well as the management rights.A transition phase will follow during which the current Cyprus Port Authority will continue to operate the port while DP World and P&O Maritime Services undertake required activities for a smooth transition.According to the companies, the takeover date of both concessions is scheduled for January 29, 2017.last_img read more


Alaska extends nobid contract to grandson of governor donor


ANCHORAGE, Alaska — Alaska has extended a no-bid contract awarded to a relative of a major financial supporter of the governor.The Anchorage Daily News reported Saturday that the one-year contract extension was given July 1 to Clark Penney for economic development consulting services for the administration of Republican Gov. Mike Dunleavy.The 34-year-old owns Penney Capital Inc., which the Alaska Industrial Development and Export Authority pays $8,000 monthly, with a monthly travel allowance.Clark Penney’s grandfather, Bob Penney, contributed more than $350,000 to a political group that supported Dunleavy’s 2018 election.Officials say the contract with Penney Capital can be extended through mid-2022 with additional one-year extension options and an overall cost cap of $441,000.Dunleavy, Clark Penney and authority Executive Director Tom Boutin declined to be interviewed, the newspaper reported.___Information from: Anchorage Daily News, http://www.adn.comThe Associated Press read more