The Ministry of Transport will launch an informal public consultation process in November to gather opinions from potential investors on separate developments for Larnaca’s port and marina, Transport Minister Alexis Vafeades told philenews on Thursday.
These views, along with a study by experts expected to commence work by early 2025, will shape the future of the two state infrastructures following the collapse of an agreement with Kition Ocean Holdings last May.
“We will soon make initial contact with interested parties. Next month, they will be invited to submit expressions of interest to record their views,” Vafeades said.
The consultation process, although informal, is crucial in determining whether the verbal interest expressed by “many” Cypriot and foreign entrepreneurs in recent months is substantial, the minister added.
Vafeades explained that the public consultation could be conducted either through the General Accounting Office or the Planning Bureau, with a decision expected in the coming days.
In parallel, the ministry is preparing to select experts to conduct a study on Cyprus’s port needs. “The experts will be asked to treat Cyprus as a single port destination with three entries and tell us the ideal scenario,” Vafeades said.
The minister aims to issue tenders for finding experts by the end of this month, with work expected to begin by early next year.
Meanwhile, the state is proceeding with three immediate projects costing between 25-30 million euros.
The dredging of the marina is slated to start within 2025, pending environmental approval.
Vafeades will seek cabinet approval next week for funds to be allocated to Larnaca Municipality for an architectural competition for a yacht club building and marina landscaping.
In a separate development, sources suggest that Kition Ocean Holdings is preparing to claim compensation for the termination of its 1.2 billion euro investment agreement.
The government is expected to soon assess damages incurred by the state from the former contractor’s management of the marina and port to formulate its own claims.
