We consider it worthwhile to have meetings with the investors, we will see them together with the ad hoc committee, said the Minister of Transport
There is interest from Cypriots and foreign investors for the marina, land development and for the port of Larnaca, said the Minister of Transport, Alexis Vafeadis. In his statements on the “NEWS DISTRIBUTION” radio show, the Minister said, “we consider it worthwhile to hold meetings with the investors, we will see them together with the ad hoc committee. We want to have this transparency, this information to all involved so that we can come to the right conclusions and after this period to decide what process we will follow to implement these projects”. Continuing, Mr. Vafeadis emphasized “especially for the port, it is important to hear how the market treats it, because it will help us to have better images of how much money needs to be invested and, by extension, what instructions we will give to the consultants who will evaluate it ».
It is recalled that the Government officially proceeded with the separation of the two projects of the development of the port and the marina of Larnaca and sets the stage for projects to upgrade the marina and the surrounding area and the construction of a building for the Naval Group, with an estimated value of up to €30 million plus VAT. The decisions came after the joint development contract worth €1.2 billion was terminated by the Kition Ocean Holdings consortium on May 27, marking the third failure of the whole effort after 2010 and 2015.
Regarding the timetables, Mr. Vafeadis said that the work on the maintenance and upgrading of the marina is expected to be completed around September 2026, compared to March 2027, which was the timetable of Kition, the construction of the Yacht Club due to will be completed in December 2027, compared to February 2027, while work on the park and green spaces is expected to be completed by September 2026, compared to the March 2027 milestone contract with Kition.
