There is no reason for workers hired by Kition Ocean Holdings to be concerned for the future of their employment, President Nikos Christodoulides stressed on Saturday, as he pledged the government will do everything possible to keep the project going.

Earlier this week, the state moved to terminate its agreement for a €1.2 billion project encompassing Larnaca’s port and marina.

It cited having no other choice after Kition Ocean Holdings repeatedly failed to pay its financial guarantee.

“The only other alternative left to terminating the agreement, is to do nothing. We will not allow this.

“Would it have been better for us to abandon it and let nothing happen? On the contrary, we are moving forward, there is interest, and you can rest assured the project will move forward,” Christodoulides said.

In the meantime, chairman of the port authority Zinonas Apostolou, in an interview with Phileleftheros, said it had the know-how to take the project on.

“We want to have a say and a key role in its management and development. The port authority can be an investor, but we can also develop the port ourselves.

“We have the financial capacity and there are European programmes that support the ports of EU member states.”

Workers who were hired for Kition Ocean Holdings staged a protest on Friday, expressing fears they would not be paid for May.

Christodoulides stressed however there is no cause for concern. “We are doing everything possible to ensure they keep their jobs in light of the new situation.”

He added he had spoken to both the labour and transport minister.

“The instructions are clear and there is no cause for concern. We are working towards a solution.”

On Wednesday, the government clinched a deal with Larnaca port and marina workers who were fired by Kition Ocean Holdings.

It ensures 72 workers who were dismissed from Kition Ocean Holdings on Tuesday night will not be left without a job.

The deal rests on three pillars: first, that all workers will transition their employment to the Larnaca and Famagusta District Development Agency.

Secondly, efforts will begin immediately to document the work carried out by the 72 employees, so they can be assigned similar tasks.

Lastly, when the government moves to call for a new tender, the conditions will stipulate all of these workers must be hired by the new contracting company.