THE ministry of energy, commerce, industry and tourism announced on Friday that PMV Maritime Holdings Ltd had been awarded the tender for the lease of a state area (land and sea) for the development of the Paralimni marina.
The tender was launched on June 16, 2015. PMV Maritime Holdings Ltd submitted its tender on November 27, 2015.
The marina constitutes another important tourism infrastructure project for the Famagusta district, which strengthens the Government`s efforts to promote maritime tourism in Cyprus, a statement by the ministry said.
The Paralimni municipal council welcomed the award of the tender, saying: “This is a project that we have been awaiting for 15 years, which is worth €110m, including tourist, commercial and residential developments. The prospects for economic development of the whole of Famagusta’s free area are on the rise and a great interest for new investments by foreign and local investors is expected.”
The marina will have a capacity of approximately 300 vessels and will include administration buildings, a hotel and residential and commercial developments. The project is expected to be completed in three years.
According to the municipality, it is estimated that 600 jobs will be created as a result of the construction which is scheduled to start in the summer.
The land will be licensed by the Republic of Cyprus for a period of 125 years.