Newsroom
The Natural Gas Infrastructure Company of Cyprus (ETYFA) expressed deep frustration and disappointment on Friday, confirming that the consortium contracted for the Vasilikos project is not only unwilling but also unable to complete the work.
In a strongly worded statement, the Natural Gas Infrastructure Company (ETYFA) highlighted the systematic tactics employed by CMC Limited, representatives of the consortium, to deflect responsibility for the project's failure. ETYFA emphasized that the consortium's actions have led to unjustified delays and breaches of essential contract terms.
"We have watched with sadness all these past weeks the systematic tactics of CMC Limited, representatives of the consortium that undertook the Vasilikos project, to deflect attention from their enormous responsibility for the failure to complete the project. The culmination of their desperate attempts to deflect responsibility is the current attempt by this company to terminate the relevant public contract on behalf of the consortium," ETYFA stated.
The Vasilikos project, crucial for Cyprus’ energy infrastructure, has been marred by significant setbacks attributed to the consortium's inadequacies. Despite ETYFA's efforts to salvage the cooperation by providing numerous alternatives, the consortium's repeated failures left ETYFA with no choice but to terminate the contract.
"Although we made every effort to salvage the relevant cooperation by providing a number of alternatives to the consortium to enable the project to be completed, the Chinese consortium's numerous breaches of essential terms of the contract and their unjustified delays and failures leave ETYFA with no option but to terminate this contract and to denounce the Chinese consortium and its members for these breaches before the competent judicial and other bodies," the statement continued.
ETYFA assured the public that it will take all necessary steps to complete the project and seek compensation for any damages or losses incurred due to the consortium's failure. The organization remains committed to ensuring the successful completion of the Vasilikos project, vital for Cyprus' energy infrastructure and future development.
