Former Cyprus Transport Minister joins EuroAsia Interconnector

* Brings vast experience of private-public partnerships to the Board

NICOSIA, December 5, 2018 – Former Transport and Communications Minister Marios Demetriades has joined the EuroAsia Interconnector Strategic Council as a board member.

EuroAsia Interconnector is the project promoter of the European Commission Project of Common Interest (PCI), connecting the electricity grids of Israel, Cyprus, Crete and Attica in Greece with the European system through a 1,518km subsea high-voltage direct current (HVDC) cable with a design capacity of 2,000 MW.

“Mr Demetriades joins the Strategic Council at the most critical juncture of the EuroAsia Interconnector. His sound advice and experience in dealing with public-private partnerships will contribute significantly to the smooth development of the project,” Chairman of the Strategic Council and former Foreign Minister Ioannis Kasoulides said.

“As the project developer of the ‘electricity highway’ that is proceeding according to schedule, we welcome Marios Demetriades who will bring his experience and know-how in matters of communications, energy and business strategy,” said Project Director George Killas.

From 2014 to 2018, Demetriades oversaw the transition of the Transport Ministry to one of the biggest contributors to the economy, undertaking reforms in air transport and overseeing major projects such as the commercialisation of Limassol Port, transformation of the Department of Merchant Shipping to the Deputy Ministry of Shipping and large-scale public infrastructure development projects.

During his term in office in President Nicos Anastasiades’ first administration, Demetriades supervised tax reforms and other initiatives that bolstered the international image of the maritime sector that now boasts one of the leading merchant shipping fleets in the world and a leading ship-management cluster.

Marios Demetriades was born in Paphos in 1971 and was educated at the University of East Anglia in Business, Finance and Economics in 1993. He worked at international advisory fims BDO and Ernst & Young, and held various managerial positions at Laiki Bank Group and subsequently at Piraeus Bank (Cyprus). He is a member of the CFA Institute (Chartered Financial Analyst), the Institute of Chartered Accountants in England and Wales (Chartered Accountant) and the Institute of Certified Public Accountants of Cyprus (ICPAC). He is married to Maria and they have two children.

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