Jun 8, 2015
On 29 May 2015 the official Inauguration Ceremony of the €300m VTT Vasiliko terminal took place. The President of the Republic of Cyprus conducted the ceremony in the presence of guests including ministers and members of the Cyprus Parliament, the Dutch Ambassador to Cyprus, and local officials and community representatives. His Holiness the Bishop Varnavas of Trimithounta opened the inauguration with a blessing.
With total investment of around €300m, the 544,000 m3 terminal is one of the largest and most significant industrial projects ever to be built in Cyprus.
Andreas Neocleous & Co LLC played a crucial role in the project, advising Rabobank, the main provider of finance for the project, on the Cyprus law aspects of the transaction. At USD 500 million, it is among the largest foreign financing transactions in Cyprus for several years. Rabobank is a Dutch multinational banking and financial services company headquartered in Utrecht. It is a global leader in food and agribusiness financing and in sustainability-oriented banking.