Cyprus Mail
Cyprus

State reaches different agreements on delayed Nicosia projects

Fines for late completion of Eleftheria Square are being suspended

A daily penalty of €2,500 will be imposed on contractor Lois Builders for delays in finishing construction of the new Nicosia city hall as of Friday, as per the agreements signed, while the €6,000 per day late-completion fine relating to the Eleftheria square project, set to be triggered on January 4, will be suspended, the state’s central committee of changes and claims decided on Wednesday.
According to daily newspaper Phileleftheros, the agreements entered into with the contractor stipulate that penalty clauses kick in if completion deadlines are exceeded, as is the case for both projects.
But, while the €2,500 penalty in the case of the new city hall will be taken out of the bank guarantee submitted by the contractors, the higher fine for late completion of the Eleftheria square will be calculated but not taken out of the respective bank guarantee, in order to ensure the contractor does not face liquidity issues that may further hinder the progress pf construction.
Instead, the committee has decided to introduce monthly progress reviews, the positive outcome of which will see the release of payments to the contractor so that employees can be paid and materials bought for the next phase of construction.
The January 3, 2018, deadline was the result of consultations between the contractor, the project’s architects and the municipality in March 2016.
A spokesman for Nicosia municipality declined to comment on the decision.
Meanwhile, even as construction of the square is nowhere near completion, the municipality has invited tenders for the operation of its café.
“On conclusion of the project of reconstructing Eleftheria Square and the adjacent area, the municipality is accepting expressions of interest for the leasing of the café in the western moat, near the exit of the Omirou avenue parking area and near the children’s playground included in the project,” Nicosia municipality said in a statement.
The municipality said that those interested in applying to operate the café should register with its tenders e-procurement portal.
“The tender documents will remain uploaded until January 8, 2018, and expressions of interest must be submitted by 10am that day,” it said.



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