Former minister slams refinery decision

FORMER COMMERCE and Industry Minister Nicos Rolandis yesterday blasted the decision to shelve plans to upgrade the Larnaca Petroleum Refinery to meet with EU standards.

In a letter yesterday, Rolandis said the decision to upgrade the refinery was taken in 1995 following a study which showed that it was the cheapest option.

Rolandis’ reaction follows comments made by Commerce and Industry Minister George Lillikas on Wednesday that turning the refinery into a fuel terminal would save the economy up to $80 million in the long run

“After a series of decisions from 1995 onwards it was decided that the presence of the refinery was good for the country,” he said.

“The benefit compared to alternative solutions, including turning the grounds into an import terminal was estimated at $60 million.”

Rolandis said the Cabinet had come to the conclusion in April, 1995, that if there was no refinery in Cyprus and the fuels produced by the refinery were imported, then the cost of those products would be $5-10 million a year more expensive.

Lillikas told the House yesterday that the economy would save up to $80 million from cancelling the upgrade of the refinery and turning it into a terminal and called on anyone who had any evidence to show otherwise to come forward.

“The experts that carried out the studies do not have any financial or commercial interests and they would never take part in the upgrade of the refinery or the project to turn it into a fuel imports terminal.”

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.