IN Business IN Business February 2014 Issue 96

advertising feature JOANNOU & PARASKEVAIDES GROUP THE JOANNOU & PARASKEVAIDES GROUP KNOWN AS J&P WAS FOUNDED IN 1941 BY MR. STELIOS JOANNOU AND MR. GEORGE E. PARASKEVAIDES, WHO FORMED A PARTNERSHIP THAT FLOURISHED INTO ONE OF THE LARGEST AND BEST KNOWN INTERNATIONAL CONTRACTORS IN THE WORLD. T he size of the Company grew steadily and by 1960 the management decided to expand its operations abroad. J&P was awarded its first overseas contract of building houses for the British Air Force base in El Adem, Libya. J&P performed superbly and soon became a major player in the region. After several successful years in Libya, J&P felt it was time to expand in the Arabian Gulf. This proved to be a timely move right at the beginning of a twenty-year construction boom through the 70s and 80s. Its reputation for excellent work and timely completion of projects undertaken, helped the Company to establish itself as one of the most reliable contractors in the area. During the mid-80s the Company 96 IN BUSINESS entered the Oil & Gas sector, with Gas/ Oil Separation Plants (GOSP) in the Libyan Sahara Desert, with pipelines and product storage facilities, spanning a distance of more than 2000 kilometres. GOSP projects and other Oil & Gas Facilities have also been undertaken in Saudi Arabia. J&P is ranked amongst the world’s top international construction companies. Its sphere of operations covers oil and gas, airports, highways, bridges, tunnels, dams, irrigation projects, hospitals, housing and general infrastructure, tourist complexes, hotels, academic buildings and industrial complexes in the Arabian Gulf, North and East Africa, Eastern Europe and parts of Asia, Greece and Cyprus. Another important aspect of J&P’s business is its involvement in the real estate development market with luxurious flats, office buildings, commercial centres, holiday homes and other developing projects. J&P is also currently involved in the construction of three prestigious projects in Cyprus: a) the engineering, procurement and construction of an Oil Tank Farm at Vasiliko for a net capacity of 630000 m3, b) the Limassol Marina, which combines elegant residences and a state-of-the-art marina with exclusive restaurants and shops and c) the new central offices of Federal Bank of the Middle East in Nicosia. Today, the wealth of J&P’s knowledge and expertise has achieved F

IN Business IN Business February 2014 Issue 96 | Page 97