Israeli investment announced for Larnaca port

Transport Minister Yiannis Karousos hinted at a deal with Israeli investors, saying they are ready to throw 1 billion at Larnaca’s port project.

According to daily Philelfethros, Karousos made mention of the impending deal during a meeting on Thursday morning with Larnaca mayor Andreas Vyras.

Karousos said the deal between the Israeli investors and the State was expected to be signed within ten days, while Vyras praised the developments saying “this was a special day for the city of Larnaca.”

According to reports, an updated bid was submitted last year for the development of a modern port and marina in Larnaca, a project expected to compete for new companies operating in commercial cruises, transport, and energy.

Earlier this month, DP World Limassol appointed a new CEO in hopes to give the company a new impetus, after a year of investing and upgrading infrastructure and equipment.