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Contracts for Limassol marina signed

Cyprus Trade, Industry and Tourism Minister Antonis Michaelides signed the contracts for the construction of a marina in Limassol worth 170 million euro. The marina, which will be constructed with the method of Build-Operate-Transfer (BOT) in three years, will have a capacity of 1,000 yachts in and out of water. Speaking during the signing ceremony, […]

Cyprus Trade, Industry and Tourism Minister Antonis Michaelides signed the contracts for the construction of a marina in Limassol worth 170 million euro.

The marina, which will be constructed with the method of Build-Operate-Transfer (BOT) in three years, will have a capacity of 1,000 yachts in and out of water.

Speaking during the signing ceremony, Michaelides said that the event is a day of celebration for Cypriot tourism, adding that the new marina will be ”a unique jewel for Cyprus.

We upgrade the diversity of our provided services,” Tourism Minister said and added that the construction of the marina will contribute to the attraction of quality tourism of higher per capita expenditure.

Limassol Marina will offer a range of services including dining, residential, shopping and conference space. A green park will surround the marina, while all buildings within it will adhere to old Limassol’s traditional architecture standards. The total cost for the project amounts to €170 million. Construction work will start in six months and will be completed in three years.

The strategic investor will execute the plan and manage the marina for 53 years, and retain profit rights for 37 additional years. The ‘Limassol Marina’ group of companies comprises J&P Avax A.E., Cybarco PLC, Frangoudi & Stephanou, Ioannou & Paraskevaides Ltd., Athena ATE, CADS Holding Ltd and the Limassol Chamber of Commerce and Industry (EBEL) through the Limassol Marina Development Company.

Mayor Christou said the marina was part of a general vision and a series of projects aiming to direct the character of Limassol back to where it belongs: the sea. “This important project adds to a chain of many and important works undertaken by Limassol Council along the coastal zone, in order to showcase Limassol’s identity, its naval and sea character.

“Olympion Coast, the reclamation area where improvement works will start in a year, the completion of Phytidion Athletic Centre, the old port which will also be improved this year, the Nautical Museum, the marina, the conference centre which we want to be placed between the old and new ports, the new passenger lobby, the port roads, the plan for the improvement of the road to Lady’s Mile beach using environmentally-friendly material, with pedestrian roads, parking space, lighting and services, but also other smaller projects, turn Limassol towards its natural element, which is the sea and make the city one of the most attractive destinations in the Eastern Mediterranean,” Christou said.

Marios Lanitis signed the contract on behalf of the consortium.

New marinas for Paphos, Larnaca & Ayia Napa on the way

Tourism Minister Antonis Michaelides said that other contracts regarding the construction of marinas in Pafos, Larnaca and the Cypriot resort of Ayia Napa would follow. He went on to say that the Pafos marina will be situated in Potamites Kissonerga and will have a 1000-yacht capacity, adding that the process for the tender is at its final stage.

According to Michaelides, the Ministry is advancing the negotiations with the bidder for the Ayia Napa marina, which will have a 600-yacht capacity.

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