Addressing the No-Show Incident
In a recent development that has caught the attention of stakeholders, Kition Ocean Holdings addressed their unexpected no-show at a House transport committee meeting, emphasizing that their absence should not be interpreted as a lack of respect. The consortium clarified that a misunderstanding led to their non-attendance, as they were only made aware of the invitation post facto through media reports.
Despite the hiccup in meeting attendance, Kition Ocean Holdings expressed their unwavering commitment to transparency and constructive dialogue. They reassured MPs and other stakeholders of their readiness to engage in discussions at any convenient time, highlighting their dedication to the Larnaca port and marina restructuring project.
The company’s statement aimed to dispel any concerns about their intentions, asserting that they had attempted to join the meeting remotely but were unable to do so due to technical constraints. This gesture of reconciliation stands in stark contrast to their previously issued combative statement, which suggested proceeding with the project only upon gaining clear terms.
The heart of the dispute lies in a disagreement over a financial guarantee payment. The government has set the guarantee at €10 million, while Kition Ocean Holdings calls for a meeting to negotiate the exact figure. Transport Minister Alexis Vafeades had even hinted at legal action if Kition failed to comply with the stipulated amount. Despite agreeing in principle to renew its guarantee following discussions with President Nikos Christodoulides, Kition has so far contributed only €4.2 million of the expected sum.
With a firm deadline set by Vafeades for the remaining €5.8 million, tensions were high as Kition stood its ground. The outcome of this financial standoff remains to be seen, especially with the construction licence for the project slated for issuance imminently.
