Contractual Dispute Stalls Larnaca Port and Marina Revamp
The ongoing revamp of the Larnaca port and marina, a project managed by Kition Ocean Holdings, has hit a snag due to a contractual dispute with the government. The House audit committee has taken notice of the issue and plans to delve into the matter within the next few weeks.
During a recent session, Diko MP Zacharias Koulias, who leads the committee, announced intentions to scrutinize the contract’s provisions. Koulias has requested that Transport Minister Alexis Vafeades provide the contract for examination. In addition, auditor-general Odysseas Michaelides has been asked to review and report on the taxation department’s findings to the committee.
Amidst this scrutiny, Akel MP Costas Costa emphasized that the audit committee’s role is to investigate contractual concerns. He noted that a separate session by the transport committee would address the project’s progress.
The construction delay, which was supposed to commence last month or early this month, prompted President Nikos Christodoulides to intervene. After a series of communications between the government and Kition Ocean Holdings, President Christodoulides expressed his readiness to meet with the company and seek solutions within the agreed contractual framework.
Earlier this week, Kition Ocean Holdings, responsible for the significant redevelopment project, took legal action against the government. CEO Oliver Corlette accused the government of causing delays and breaching the contract by being unresponsive to discussions over a financial guarantee discrepancy.
The situation has drawn significant attention as both parties navigate through a complex contractual landscape, with the future of the Larnaca port and marina hanging in the balance. Stakeholders are eagerly awaiting the outcomes of these discussions and legal proceedings, hoping for a swift resolution that will allow the revamp to proceed as planned.
