Termination of Refinery and relocation of oil storage

Until today Larnaka is paying cost due to the presence on its shores of the government Oil Refinery and the storage deposits of the private companies. In the year 2000 the Municipality signed a contract with the government according to which all installations related to petrol should be removed from Larnaka by the year 20010 and that by the year 20012 the related plots of land should be environmentally cleaned and delivered to the new ambitious policies of the town aiming in transforming the city into a unique town resort in the Eastern Mediterranean.

Oil refining has been terminated in the year 2004 and these installations are currently being dismantled to be exported in a nearby Middle Eastern country.
The existing oil deposits will temporarily serve as oil terminal till the year 2008-9 when the new Modern Oil Terminal and Storage project will be completed at the Vasiliko area, in the middle of the distance between Limassol and Larnaka. This new oil storage project has government priority as it is related with the Cyprus obligation to comply in full with the E.U. rules and relative regulations.