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Friday 10th July 2020
Home Investor Centre Paphos marina faces further delays

Paphos marina faces further delays

Paphos MarinaFEARS have been expressed over Paphos Grand Marina going ahead after it has experienced a further delay following a decision by the authorities to refer the matter to the attorney-general.

“The committee is passing all of the documents on to him to check his legal opinion and that everything is in order,” said community leader of Kissonerga George Stylianou, referring to the administrative committee that manages marinas, which met on Monday.

Stylianou expressed his concern over the move, hoping that it wouldn’t lead to further delays in the project getting off the ground.

“The attorney-general must proceed with this case as a matter of urgency and it should not take more than a month,” he said.

He expressed the worry that if it took longer it could lead to a permanent delay in the project which has been plagued by delays for more than a decade.

“This is halting our plans as a community and we cannot wait any longer,” he said. “Should we count on the financial income from the marina or not?”

The marina at Potima bay between Kissonerga and Peyia will be a crucial project for Paphos. When finally built, it will cover an area of 155,000m² and have a capacity of 1,000 berths. The project will take approximately three years to be completed.

The latest move is the last in a long line of problems.

The project had been frozen since litigation began after it was awarded in 2008.

Following the announcement of the tender for the project in 2007, the project was initially awarded to the Cybarco-Pandora consortium of which the Leptos Group was a part in 2008. However, the other two consortiums that had bid for the project,

Poseidon Grand Marina (which includes Aristo) and Pafilia, challenged the award.

According to the terms of the tender, the chosen consortium must prove 60 per cent of funds are secured. The Poseidon project has a total cost of €215 million.

Although proof of funding was submitted on time some technical problems remained.

At Monday’s meeting the contract with Poseidon was expected to have been signed.

2 COMMENTS

  1. OMG
    Cyprus is completely giving up its peaceful image sharks are everywhere as I have been one of the very first investors buying from Palas a small cottage in Kato Paphos around 1980 (with title deed) no longer finding rest when being there
    although I have developed profound feelings for Cyprus always felt homelike need to give up my dreams…

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