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Cyprus

Investment bids for Larnaca development expected in April

Two bids for the development of the port and marina in Larnaca from Israel and China are expected to be submitted by the end of April, Transport Minister Marios Demetriades said on Tuesday.

After meeting the city’s mayor Andreas Vyras, Demetriades said he had hoped the development of the port and marina would have happened before his term ended.

He noted that the process is nearing its completion, expressing his belief that with persistence and patience this large project can be implemented.

Demetriades said there is no other way forward, adding that it doesn’t have to do with how much money the state will earn from the deal but rather with creating infrastructure projects for the benefit of the city.

Referring to the tender process, he noted that the two companies interested have asked for an extension of approximately six weeks form the original March 16 deadline.

Following the meeting, Vyras said it is “a very important project, which we want to see implemented because it concerns the economic growth of our city and a message we are sending for new investments.”

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