CLOSE
Loading...
12° Nicosia,
23 May, 2024
 
Home  /  News

Breakthrough in Larnaca port revamp talks

Government slashed bond amount from €10M to €4.2M

Apostolis Tomaras

Apostolis Tomaras

Recent discussions, presided over by President Nikos Christodoulides, have ignited hope for the transformation of Larnaca's port and marina. With both the government and project contractor, Kition Ocean Holdings, taking bold steps, a breakthrough seems within reach.

The heart of the discussions? A crucial performance bond, whose expiration had cast a shadow over progress. But now, a significant compromise: the government has slashed the bond amount from €10 million to €4.2 million, paving the way for fruitful dialogue on critical project aspects.

As optimism fills the air, Kition Ocean Holdings eagerly embraces the momentum, vowing to kickstart project procedures without delay.

But that's not all. With an eye on changing tides, the company advocates for reshaping project timelines, capitalizing on geopolitical shifts to prioritize residential development for swift financial infusion.

With each twist and turn, the path to Larnaca's port revival grows clearer. Could this be the dawn of a new era? Stay tuned as the journey unfolds, with the tantalizing prospect of port and marina redevelopment taking shape by next July, marking a triumph of collaboration and vision.

TAGS

News: Latest Articles

X