Developer Kition Ocean Holdings’ no-show at Wednesday’s House transport committee meeting should not “be perceived as a sign of disrespect”, the consortium insisted on Thursday.

They described the situation as a “misunderstanding” and said their absence from the meeting “does not indicate our intentions”.

They said they had only found out about their invitation to the meeting “after a relevant report was made in the media”.

“By that time, it was too late for anyone to attend in person. We tried to attend remotely, but this was not possible.”

They went on to say they are “committed to full transparency and a constructive dialogue with all stakeholders, including MPs”, and that they were ready to meet with the committee at any time in the foreseeable future.

They added that they are “committed to the successful implementation of the Larnaca port and marina restructuring project”, and that they wished to maintain a spirit of cooperation to achieve common goals and ensure the project’s success.

Their reconciliatory tone contrasts with the combative statement they had issued on Wednesday, in which they had said they would only proceed with the project “as soon as it gains clarity.

Their dispute with the authorities had come about over a difference in opinion regarding the payment of a financial guarantee. The government expects the company to pay a guarantee to the tune of €10 million, but the company insists on holding a meeting to discuss the exact amount.

Transport Minister Alexis Vafeades had threatened to take Kition to court over the matter on Tuesday, with Kition only having put forward €4.2m so far.

Kition had agreed a week prior during a meeting with President Nikos Christodoulides to renew its guarantee, but differences in opinion remain regarding the amount.

Vafeades had said on Tuesday that “we believe that one week is a reasonable time frame for someone to issue a guarantee for this specific amount.”

He had given Kition until the end of the day to pay the remaining €5.8m, but Kition remained unmoved.

The construction licence for the project is set to be issued on Friday.