idea’ says Ports Chief A port at Paphos is not a wood ide ros Galatariotis, Chairman of the Cyprus Ports Authorit he indicated that the government was determined to go: with its construction, Mr Galatariotis told a press conference: “The Ports ing any | producti Authority (a sermi-goverament organisation) works on a commercial ba rect, it wants to knew whether it will be and would give an adequate return for sand before undertak- the Authoarity’s investment. “En the present case, the Authority studied the constmiction of a port at Paphos and unfortunately came to the conelasion that it is mot mecessiury. it would be uneconeanical “This. of camrie, dees not prevent dhe goaverim- nent, Which tukes inti con- sideration other factors as Wall, te decide ta build ia port alan area where the Authority believes itis met recgerieed. “Th amy way, dhe gow ermuent, taking all factors into consideration, has an- nounced that ithas deciced to bnild a pert at Paphos”. He cocalled that this decision had been an- nownerd in the past hy the late Provident Miskaries amd more recenth: by Presi- dent Kyprivnou und the Minister ef Conminmnica- tins Mle Marios Flindes. Mr CGalaturivtis Stressed! that after it was Jvilt, the. Payphes jrore shonld be handed over tu the Authority Capacity Fle revesahecl that Li- reuse prot epseritocd aed jist over 9) per ervnt capacity a 1974 while Lumacia port operatedt at anh AQ yer cenig. Mr Galatiriatis —jan- nouneed that the Ports Au- therity is launching a £16 nuillion extension of storage space, installation of more equipment and the eon struction af mew aclirines- trutit ariel PeSse ner lowihdinys- according to MrStav- . But eacl Bank Loan The qnay extensicns thy d80hetres and HO nie- tres respectively) will allow the berthing ancl simultane ous loading and iunloscling | af at least 23 ships at both ports, he said. The £16 ma. rexguired willie ret parthy frogia © ta tevcetr secured) From the World) Rank unelor faven- table terms. Mr Gakituriatis said the fwo ports handled 2150000 tons of earge lust year (850,000) tons of ox- ports. L100) tens of imi ports and 200,000 tons af goods in transit}, A 20) per cont inerase: was forecast far this year. Container traffic wis expected! to wo ips by abet 45 por cent this year. He saicl the Authority's met operating surplus reached £1.46 million kist vear Mr Culatariotis called on the wocermuent te tol low ak Tere COUnaZeGUs Oe anomie policy that weuld provid greater tax incen- tives andl tare Cyprus inte “areecemonmie ancl business centre’, “not a Sere ocr The chairman of the Cyprus Ports Authority, Mir Stavros Galatariotis (contre) speaking at the press conference. With hint are Mr. T. Papakyriakeu nel Mr Mf. Vassiliou. senior cxccutives of the Authority, Mia Panayetis Tournaris, vice- chaigman, Mir K. Psillides of the PIO and MrT. Baywdas, general cnanagger of the Autharite. Ls The Ministers of Conumunications and Agriculture, Mr Marios Eli Ceoorge Tombros, were ammene offi Ctlaturtatis. E ricult dex are Mr als who followed the press conference af Mr