Stakeholders Convene to Revive Larnaca Port and Marina Project
In a pivotal meeting scheduled for Monday, President Nikos Christodoulides aims to resolve the impasse surrounding the ambitious €1.2 billion Larnaca port and marina project. The gathering, confirmed by spokesman Constantinos Letymbiotis, will see key players assemble at the Presidential Palace, including concession operators Kition Ocean Holdings, property giant Aroundtown, Larnaca’s Mayor Andreas Vyras, the Cyprus Chamber of Commerce, legal and transport authorities.
The project has hit a snag over the renewal of a €10 million guarantee by Kition. CEO Oliver Corlette has expressed reluctance to renew without amending the concession agreement, citing viability concerns. Transport Minister Alexis Vafeades underscored the government’s stance, insisting on the renewal to avoid breaching essential terms of the agreement and potential financial penalties for lost state revenues.
An ad hoc committee has been established to facilitate progress, with Mayor Vyras at the helm. However, Cyprus Chamber of Commerce president Stavros Stavrou issued a stern message to Kition, urging transparency and commitment or a clear withdrawal if doubts persist.
Adding complexity to the project is the historical pier, a cherished part of Larnaca’s heritage dating back to 1878. Kition Ocean Holdings has reassured that restoration plans are in line with town planning and construction permits, emphasizing the importance of this first step in the broader development scheme for the port, marina, and coastal area.
As stakeholders prepare for Monday’s crucial meeting, the Larnaca community watches with bated breath, hopeful for a breakthrough that will not only preserve their heritage but also propel their city into a new era of economic growth and development.
