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Cyprus

Investors have expressed interest in technology park

Diko deputy Angelos Votsis

Four investors from Cyprus and abroad have expressed an interest in the mooted Science and Technology Park at Pentakomo, MPs heard on Tuesday.

They include individual companies and consortia.

Government officials were asked to give lawmakers a briefing on the tenders process, which was recently extended by one more month, to the end of October.

It is the second extension to the tender validity period.

Commerce ministry officials said the delays were due to clarifications being sought by the companies regarding the terms of the tender.

MPs took this as good news, in that it suggested the companies meant business.

Diko deputy Angelos Votsis spoke of “serious organisations” showing an interest. He expressed the hope that the tenders process would conclude by the new deadline, October 31, following which authorities will assess the bids.

“This grand project, if implemented, will create jobs for Cypriot as well as for foreign scientists who will do their part in research, innovation and growth, which is so precious to our country at this moment,” he said.

The government has already budgeted some €3.5m for the project. The amount covers costs for putting the basic infrastructure in place – such as roads, water and electricity supplies and internet connectivity – as well as for land appropriations in the designated area.

The proposed park at Pentakomo, in Limassol, involves the leasing of government land of approximately 328,000 square meters for a period of 50 years.

The investors will develop and operate the project and find the tenants.

The space could include university departments, research centres and business incubators. The aim is to attract both foreign and domestic companies operating in the fields of nanotechnology, biochemistry, energy, telecommunications, health services, the environment, IT and shipping.

Akel MP Costas Costa said he hoped no new delays would occur, which might lead to the cancellation of the proposed project.
The plan to create a technology park was approved by the then government back in February 2006.

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