Larnaca port and marina redevelopment project has hit a four-month delay in signing contracts with MPs demanding an update from the government but officials said the wait will soon be over.
The redevelopment of the Larnaca port and the 600-berth marina is expected to start soon following an agreement reached between Cyprus and Israeli investors after year long negotiations.
Legal action against the government's decision to award contracts for the Larnaca marina and port to be developed by an Israeli consortium have been filed with the administrative court.
Larnaca marina and port development plans have been put on hold for another three weeks as the strategic investor has asked for an extension to submit their final financial offer for the €400 million project.
The competition process to develop Larnaca marina and port are back on track and the tender documents will be delivered today (Friday) after the Transport Ministry rebutted claims that the project was beset by legal complications.
Larnaca is set to see the construction of its first Mall within the next 18 months as part of a new facelift, while local authorities prepare to address challenges it will bring; town planning permits have been issued.
The competition process to develop Larnaca marina and port have been delayed yet again – this time by extensions to the tender document placing a ceiling on the annual tonnage that can be handled by the port.
Contracts for the Larnaca port and marina project are expected be signed later this year according to Marios Demetriades, the Cyprus Minister of Transport, Communications and Works.
The process of preselecting the successful bidder for the construction of the new Larnaca marina and port should be completed by the end of this week according to the Minister for Communications and Works.
Five proposals from various consortia have been received for the development of Larnaca marina and port following many years of delay and after the previous bidder Zenon Consortium failed to find the necessary funds.
Ambitious plans for the Larnaca marina and port project are edging forward with Transport Minister Marios Demetriades announcing that the target to sign contracts is the end of 2017, depending on progress.
A new, ambitious plan for the Larnaca port has been unveiled by the Transport Ministry, which includes a marina to hold 750 50-metre yachts, 50-60 mega and Giga yachts and a 300m cruise ship.
