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Cyprus News Agency: News in English, 13-04-03
CONTENTS
[01] VTTI expresses its confidence in Cyprus
[01] VTTI expresses its confidence in Cyprus
VTTI B.V., one of the world's independent energy storage companies,
reaffirmed its support and commitment to Cyprus where its subsidiary,
VTT Vasiliko Ltd, is developing a major oil storage terminal.
According to a press release, commenting on the recent economic turmoil
in Cyprus, Rob Nijst, CEO of VTTI, drew a positive picture of the
prospects of the country as an energy hub and announced even bigger
investments. "Our commitment and confidence in Cyprus remains as strong
as ever.
The project is proceeding according to plan and almost 12 tanks are
now completed. In total we expect to invest around €300 million,
generating employment during the project and also after its completion.
We see Cyprus as a future energy hub of the Eastern Mediterranean, and an
attractive place in which to invest. In fact, we are already exploring
the possibility of expanding the scope of the project to include marine
bunkers," he said. George Papanastasiou, Managing Director of VTT
Vasiliko Ltd, stressed the importance of the project for the fragile
economy of Cyprus, noting that this investment will bring significant
economic benefits in the midst of a severe economic downturn.
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