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Lois Builders Ltd. has issued a statement in response to the recent termination of its contract for the Fishing Reserve and Liopetriou River project, calling the move “unprecedented.” The company highlighted that it is highly unusual for a contractor to be informed of a contract termination five months before the scheduled project completion.
CEO Michael Lois emphasized that the revised project delivery date was set for January 15, 2025, with the Engineer recommending an additional 2.5 months due to outstanding financial issues with the authorities. The company also pointed out that over €550,000 in payments for completed work had been delayed by up to six months, a claim the Project Coordinator allegedly failed to inform the relevant authorities about. Lois called out the project’s mismanagement, including “manipulations” and “misleading information” that have created conflicts between the contractor and the planning department.
In his statement, Lois criticized the decision to terminate the contract, arguing that it stemmed from a series of missteps and delays, including the firing of the project Engineer. Lois claimed the Engineer was dismissed after refusing to falsely certify that the project’s delay was due to the contractor’s fault. According to Lois, the Engineer’s impartiality led to his termination, which he described as a clear breach of the contract terms.
The CEO further accused the Project Coordinator of failing to report significant issues, such as the project’s inability to function as intended because of insufficient river depth, which rendered it unusable for its designated purpose. Lois also pointed out that essential time extensions and certifications for additional work were delayed by up to 12 months, worsening the overall project delays.
Lois Builders Ltd. rebutted claims made in a recent Ministry of Interior press release, which stated that the project’s completion rate had only increased by 5% over the past year. In contrast, Lois pointed out that the actual completion rate had increased by 32%, from 50% to 55%, between June 2023 and August 2024.
Despite the ongoing issues, Lois stressed that the company remains committed to completing the project, honoring its obligations, and safeguarding its reputation. He emphasized that the company will take the necessary steps to avoid any prolonged legal disputes.
