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Cyprus

Five consortiums submit proposals for Larnaca marina

Navy officer and his wife arrived by boat at Larnaca marina

THE communications and works ministry announced on Monday that it has received five proposals from various consortiums for the development of the Larnaca port and marina.

The announcement follows years of delays and the withdrawal of a previous redevelopment plan for the development of the Larnaca port and marina which the government wants to become the largest in Cyprus.

None of the bidders has yet been named.

The government had invited parties for expressions of interest by November 26, with the initial deadline set for March 3, but an extension was given until March 20, after parliament had decided during the final day of the 2017 state budget debate, to cut the expenditure item for the hiring of consultants to advise on the privatisation of public organisations and state enterprises. This had caused a headache to the transport ministry which announced such services were required to commercialise services at Larnaca port.

With the proposals submitted on Monday, the assessment is expected to be completed by the end of April, the ministry said. The stakeholders who are shortlisted will then receive the Invitation to Tender and a draft of the concession agreement.

By autumn, the ministry expects to receive the proposals of the operators that will be preselected, “which will be evaluated in order for the concession contract to be signed with the successful operator”.

Larnaca marina is set to be the largest in Cyprus, hosting up to a thousand boats; its current capacity is 350. A total area of 510,000 square metres, which includes the Larnaca port, marina, and the undeveloped surrounding area would be developed.

The port facilities’ privatisation is an obligation under the memorandum of understanding signed with international lenders in 2013.

This is the second attempt to find investors for the project, after previous bidder Zenon Consortium failed to find the necessary funds.

 

 

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