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Tuesday, May 21, 2024

Kition Ocean Holdings accuses Minister of Transport of threats and arbitrary deadlines

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    &Alphaπ ;ειλιαυετεοθεσ καογειυπογμεα φορoν η Kition Ocean Holdings

    Kition Ocean Holdings messes with the Government – He attributes to the relevant Ministry more concern for creating impressions than for the implementation of the project

    Answers Kition Ocean Holdings why it has not yet submitted the guarantee, following the statements of the Minister of Transport and an attack on the Government and the competent Ministry for the attitude it is taking.

    Following the issue that has arisen with the construction of the port and marina of Larnaca, the company declares its readiness both for the guarantee and for the construction of the project with the immediate start of the work, however, it accuses the competent ministry of not giving the required assurances.

    Also, the company accuses the Minister of threats and arbitrary deadlines from the press.

    “We asked for confirmation of what was agreed at the meeting. The Ministry of Transport, Communications and Works did not accept to confirm what was agreed upon and refused to follow the prescribed procedure and the timetables mentioned in the Agreement” is stated, among other things, in the announcement issued by the company.

    “Unfortunately, it seems that there is more concern for creating impressions than for its implementation” is stated in the relevant announcement.

    • Minister of Transport: The next steps if a bond is not filed by Kition Ocean Port explains

    This announcement:

    Kition Ocean Holdings (Kition) < strong>is fully ready, as soon as the work program is clarified, to immediately start the construction of the important project in Larnaca, having the necessary capital, having formed a competent and experienced team, and formulating the required procedures. Kition is able and ready to submit the Operation and Maintenance (O&M) warranty as originally decided. However, we are facing challenges as the relevant Ministry has not yet agreed to meet with us to discuss the bond amount.

    On April 15, 2024, Kition met with His Excellency the President of the Republic and other officials. During the meeting, Kition agreed to the Government's requests, however, stressed that the discussions with the Government must follow the timelines of the Concession Agreement's dispute resolution process. These predetermined schedules are important for effective project planning and implementation.

    Kition left the meeting with the assessment that a mutual agreement was reached with the Government and that the discussions will follow the procedure provided for in the Concession Agreement. Nevertheless, we asked for confirmation of what was agreed at the meeting. The Ministry of Transport, Communications and Works refused to confirm what was agreed and refused to follow the prescribed procedure and timelines mentioned in the Agreement.

    Despite our surprise and regret at this approach, we have not given up and have kept the channel of communication open over the last week with a different approach whereby we can file the bond and enter into a good faith discussion under a different fixed schedule. Unfortunately, the Government is unwilling to commit to a specific timetable for good faith discussions.

    Kition expected that the negotiations would be conducted in good faith and within a structured timetable that is essential to planning the implementation of the project. We were surprised to see that the Minister had started the “discussions” in the Media, excluding us from the dialogue. Unfortunately, time and again we found ourselves learning the Ministry's position for the first time through the media. For example, no time frame regarding the bond was communicated as a condition during or after the meeting at the Presidential. On the contrary, we learned from the press about the Minister's arbitrary deadlines and threats.

    The development of the Port and Marina of Larnaca is the largest development project in Cyprus. Unfortunately, there seems to be more concern about creating impressions than actually implementing the project. If the Ministry had invested the time it spent in media statements to discuss with us, we would have already overcome this problem. condition. We expect the Government to change its approach. Kition only requests what the agreement itself provides and in accordance with the Law.

    Kition Ocean Holdings' approach has always been to follow transparent and legal procedures to resolve any disputes, however, if this does not is possible, the issue should be decided by the Cypriot courts. We remain optimistic that through dialogue the outstanding issues will be resolved and we are actively working in this direction so that the project can move forward.

    Source: cyprustimes.com

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