CONTRACTS for Larnaca port and marina project are expected to be signed in 2018, The Cyprus Minister of Transport, Communications and Works Marios Demetriades said when he visited the port on Monday.
In his statement to the press the Minister said “We hope that the process will move as fast as possible to implement this great project that will change the lives of Larnaca citizens.”
The ministry is in discussions with three foreign consortia, two of whom have already arrived in Cyprus for consultations with the ministry and site inspections.
Demetriades advised that the decision for the preferred investor will be announced in March and contracts will be signed later this year.
A new plan for the Larnaca port and marina was announced by the Transport Ministry in January 2017. According to reports the marina is set to be the largest in Cyprus, with the new 1,000 berth marina and port involving a development of up to 510,000 square meters and could include the construction of a large number of small to medium-sized apartments, a few luxury villas, a hotel, offices and a commercial centre.
Cyprus is in a favourable position to act as a stop for cruise ships, being in the eastern Mediterranean, it is a single day’s sailing from destinations such as Rhodes, Crete, Antalya, Marmara, Alexandria and Port Said.