Cyprus Mail
Cyprus

Natural gas project hits obstacle

A company that is part of the consortium that won the tender for the construction of an LNG import terminal at Vasilikos has appealed a decision to exclude it from the project because of links to a company implicated in a waste treatment scandal.

Aktor SA is part of a consortium comprising China Petroleum Pipeline Engineering Co Ltd (CPPE), Aktor SA and Metron SA, Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Ltd that won the tender for the construction of a floating storage regasification unit (FSRU), a jetty for the mooring of the FSRU, pipelines, port and other facilities.

Aktor is the sister company of Helector, facing corruption charges related to waste management plants in Paphos and Larnaca. Aktor is also accused of fraud relating to projects in the Balkans. Both companies are fully owned by Greece’s Ellaktor Group.

Because of this, the natural gas company (Defa) decided to exclude Aktor from the €500m project, prompting it to seek recourse before the tender review board.

Depending on the board’s decision there will be a further delay in the process, ranging from a few months if it upholds Defa’s decision, to many months if the tender is cancelled altogether.

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