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Pafilia to Take Over Paphos Marina

Pafilia to Take Over Paphos Marina

In the latest setback for the development of the Paphos marina, winning consortium Poseidon has been found lacking in certain terms of the competition, leading to runner-up development company Pafilia being called to submit paperwork to take over.

This is likely to lead to further significant delays to a project city officials say is long overdue, InCyprus reports.

Specifically, the Marina Management Committee rejected as outdated and lacking the financial statements handed in by Poseidon.

According to the president of the Paphos Chamber of Commerce and Industry (PCCI), Andreas Demetriades, given that Pafilia fully complies with the terms of the competition, it will take over the construction and operation of the Paphos Marina.

Demetriades said that the consortium Poseidon Grand Marina of Paphos had been called to present the necessary paperwork and proof that it was in a position to invest the necessary funds to realise the Paphos Marina project.

However, “on the basis of the financial statements submitted, it was concluded that the terms and conditions of the competition were not being met,” said Demetriades.

“Our goal is to not waste valuable time”, said the president of the PCCI.

Demetriades expressed his hope that Pafilia will be in a position to satisfy the terms and conditions of the offer, adding that the Paphos Marina has been waiting for development for more than 10 years.

According to InCyprus, the Paphos Marina, which is set to be constructed in the Potima location of Kissonerga, on the Coral Bay beach road, will have a berthing capacity of 1,000 vessels and include over 42,000 square metres of residential and commercial developments.

The Poseidon consortium issued an announcement to notify the public of its decision to resort to legal measures.

“Regarding the announcements on the matter of construction for the Paphos Marina, the POSEIDON GRAND MARINA OF PAPHOS consortium states that it disagrees fully with the recent decision of the Ministry of Energy, Commerce, Industry and Tourism to cancel the appointment of the project to construct the Marina,” it said in a statement.

“The consortium considers the decision of the Administrative Committee for the Marina to be invalid and illegal. This decision is lacking in legality and violates every principle of justice,” it added.

“The consortium, after studying the decision of the above committee has already issued directions to its legal counsel to move the case to the courts and to take all necessary legal measures to protect the interests and rights of the consortium, by invalidating the decision.”

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