Energy costs to put Limassol industries at risk

Soaring energy costs and suffocating bureaucracy are the biggest threats facing Limassol’s industries, Energy Minister George Papanastasiou has warned, pledging swift action to tackle the crisis.

Speaking after a series of factory visits on Monday, Papanastasiou said high electricity prices are crippling businesses, especially those whose competitiveness hinges on production costs.

“One of the most serious problems is the cost of energy,” he said at a meeting held at the Limassol chamber of commerce and industry (Evel).