President Nikos Christodoulides on Monday suggested there would be news even next week over the Larnaca port and marina project.

“Very soon there will be an announcement, even next week. We’re working with a specific plan which we will announce to Larnaca’s benefit.”

He was speaking from an event over the Larnaca Land of Tomorrow project, which he described as a vote of confidence for Larnaca.

“For me it’s not just a project. It not only supports the development and prospects of the city but sustainable development.”

In May, the government scrapped its €1.2 billion development with Kition Ocean Holding citing financial issues.

Transport Minister Alexis Vafeades has since said Qatar has shown an interest in taking on the running of the Larnaca port.

Christodoulides said he recently had a meeting with Larnaca’s mayor in the presence of the ministers.