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Final contracts for Limassol marina signed

Artists impression of Limassol's new marina

DURING the contract signing ceremony, Mr Paschalides referred to the huge importance that the marina is expected to have for improving the tourist product and attracting quality tourism to the Island.

In his welcome speech, the Minister noted that the government supports infrastructure projects and backs projects that opens new job posts and enrich Cyprus’ tourist product.

This day signals the start of construction work on the Limassol marina, a landmark for Limassol, for Cyprus and the Mediterranean in general. The marina is a sea settlement with special characteristics”, he said.

It can host the anchoring of thousands of vessels and includes banking up in the port space, a vessels maintenance spot, shops and a cultural centre. It also provides for free access to the public and a remarkable coastal pedestrian road”, he said.

With such infrastructure project we can deal with competition, we enrich the variety of experiences and we upgrade the quality of services that we offer. Also, we seal the attraction of quality tourism with increased spending per capita”, he noted.

The Minister thanked all those who played an important role in the achievement of the goal and expressed his confidence that “the marina will host the first vessels when Cyprus undertakes the EU rotating presidency in 2012”.

The marina will be constructed and managed under a BOT (Build-Operate-Transfer) agreement with Limassol Marina Ltd (LML); a joint venture of J&P Avax A.E., Cybarco PLC, Fraggoudi & Stefanou, Joannou & Paraskevaides (J&P), Athena ATE, Cads Holding Ltd and Limassol CCI via the Limassol Marina Development Company.

Plans for the marina complex include 586 berths for craft of various sizes, restaurants, cafes, shops and conference space. They also include 280 units (housing, trading, leisure and cultural) – some 160 of which will have their own private moorings – and luxury apartments, all with the aim of attracting more high-end tourists and a bigger share of the Mediterranean yachting market.

The project is expected to cost more than €350 million and will cover a land area of 100,000 m2, and a sea area of 170,000 m2 and will be able to host up to 1,000 vessels.