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Demetriades: Contracts for Larnaca Port and Marina to be Signed in 2018

Demetriades: Contracts for Larnaca Port and Marina to be Signed in 2018

Contracts for Larnaca port and marina project are expected to be signed in 2018, Minister of Transport, Communications and Works Marios Demetriades said.

The Minister visited Monday the port of Larnaca to inspect the work and consultations with potential investors. In statements to the Press, he said that contacts with the investors will be held over the next few days.

“We hope that the process will move as fast as possible to implement this great project that will change the lives of Larnaca citizens," he noted.  

He also said that he was confident the project would proceed because of the quality of the potential investors and added that they are discussing with three foreign consortia. Two of the consortia have already arrived in Cyprus for consultations with the ministry and site inspection.

According to the Cyprus News Agency, Demetriades noted that the decision for the preferred investor will be announced in March and the contracts will be signed in 2018. In 2019 the port and the marina will be delivered to the investor.

Furthermore, the Minister expressed his satisfaction that the volume of work in the ports of Cyprus has increased significantly as a result of the recovery of the Cypriot economy.

Regarding the turnover at the port of Limassol, he said that he expected the state revenues to be between 38 and 40 million euros.

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