AFTER visiting Larnaca on Monday Communications and Works Minister Marios Demetriades announced that the process of preselecting the successful bidder for the development of the Larnaca marina and port should be completed before the end of the week.
The announcement follows more than 25 years of delays caused by legal wrangles and bureaucracy and the withdrawal of the consortium awarded the contract in 2008 because it failed to find the necessary funds.
Last month it was announced that five proposals of interest from various joint ventures had been received although the interested parties were not named.
A new plan for the Larnaca marina and port was announced by the Transport Ministry in January 2017 and the marina is set to be the largest in Cyprus hosting up to 1,000 vessels.
The project will involve the 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.