- Cyprus Property News Magazine - https://www.news.cyprus-property-buyers.com -

Larnaca marina plans on track

Larnaca marina and port project THE PROCEDURES to invite tenders for the development of the Larnaca marina and port are on track, the transport ministry said on Thursday.

It was responding to news reports claiming further delays.

In a statement, the ministry said that the cabinet earlier this week approved the release of the final tender documents to the project suitors.

The tender documents would be delivered on Friday as scheduled, it added.

The ministry also rebutted claims that the mooted project is beset by legal complications.

It said that a legal opinion, delivered by the attorney-general’s office on August 13, cleared the way for the project.

Additionally, the ministry had received the opinions of the Commissioner for State Aid Control and the Commission for the Protection of Competition.

It’s understood that the project’s suitors are having reservations about a clause that places a cap on the volume of cargo to be processed at Larnaca port.

A ceiling of 900,000 tonnes per annum has been placed. The clause had been inserted in the agreement for the development of the new Limassol port and terminal, inaugurated in May this year.

Initially three suitors had expressed an interest in the Larnaca marina & port project. Two subsequently withdrew, leaving only Ampa Ltd & Israel Shipyards Ltd in the running.