Home / Business / Local Business / Paphos earmarked for huge industrial park

Paphos earmarked for huge industrial park

Efforts are underway by Chinese investors to build a huge industrial park in Paphos with the search already underway according to the Paphos Chamber of Commerce and Industry (PCCI).

According to reports in Phileleftheros, an unnamed Chinese firm is seeking to purchase 120,000 square metres of land to accommodate thousands of offices and light industry firms in what will be a gigantic commercial complex on the outskirts of Paphos.

An industrial park (also known as industrial estate, trading estate) is an area zoned and planned for the purpose of industrial development.

The park can be thought of as a more “heavyweight” version of a business park or office park, which has offices and light industry, rather than heavy industry.

The reports have been confirmed by PCCI chief Andreas Demetriades who added that “this development will include an exhibition centre as well as vast storage facilities, an international commercial centre to promote products from abroad and an area to assemble products that will be imported from China and then sold to other EU countries.”

Development officials in Paphos are hoping that the new venture will be able to attract new business by providing an integrated infrastructure in one location.

Check Also

Economic sentiment rises in May 2017

Confidence in the economy is improving according to a report from the Economics Research Centre at …

Cabinet makes first steps towards electricity liberalisation

The Cabinet is expected to decide on the liberalisation of the Transfer System Administrator with …

Leave a Reply

Your email address will not be published. Required fields are marked *