Deadline Set for Larnaca Port and Marina Project Guarantee
In a recent briefing with the Larnaca Urban and Rural Development Committee, Transport Minister Alexis Vafeadis underscored the urgency of receiving the financial guarantee from the contractor company responsible for the Larnaca Port and Marina Unified Development Project. The minister emphasized that the guarantee, a crucial contract term, is pending and a strict two-day deadline has been imposed for its submission.
Failure to receive the guarantee within this timeframe could lead to legal consultations, as the project’s implementation hangs in balance. The consortium, Kition Ocean Holdings, has been in the spotlight after agreeing to renew their financial guarantee following a high-level meeting with President Nikos Christodoulides. Despite this agreement, the actual submission of the €10 million guarantee, up from a previous €4.2 million, remains outstanding.
The minister highlighted the importance of the project to national interests and assured that legal frameworks would be followed to ensure its realization. He also noted that while the consortium had expressed willingness to submit the guarantee, it had not yet done so, and any further delay could alter the course of action.
Addressing potential complications, Vafeadis acknowledged that even after receiving the guarantee, reviewing the contractor’s requests could extend beyond a week, as they necessitate input from various departments, including the Town Planning and Housing Department.
Larnaca Mayor Andreas Vyras expressed concerns about delays affecting the project’s timeline, with construction slated to begin in June. He stressed the importance of swift action to facilitate the commencement of construction work. The contractor company’s upcoming visit to secure building permits was mentioned as a sign of progress amidst these challenges.
Members of the development committee shared apprehensions regarding the project’s schedule, highlighting the need for timely resolution of these matters to maintain momentum on this significant development for Larnaca.
