Transport Minister Alexis Vafeades announced on Thursday that a fresh tender will soon be launched for the operation and maintenance of the Larnaca marina. Speaking after a cabinet meeting, Vafeades explained that the successful bidder would be granted operational rights for five years or until a new investor is found to modernize the marina’s infrastructure.<\/p>\n
The cabinet also authorized the transport ministry to oversee marina operations and carry out maintenance until December 31, 2025, or until a private operator is in place, whichever comes first. Similarly, the Cyprus Ports Authority has been permitted to continue operating Larnaca\u2019s port while a separate tender is held for its operation and maintenance.<\/p>\n
Vafeades elaborated on the government\u2019s phased approach in an interview with Cyprus Mail. The plan includes two transitional periods: initially, private operators will be sought to manage both the marina and the port for up to five years. Concurrently, the government will assess the ideal use and scope of both sites. Once a comprehensive plan is finalized, long-term investors will be invited to undertake infrastructure upgrades for both projects.<\/p>\n
\u201cThis process could extend up to five years,\u201d Vafeades noted, \u201cso we need interim private operators to ensure operations run smoothly while plans are being finalized.\u201d<\/p>\n
The decision also stipulates that employees currently managing the marina under the Larnaca and Famagusta District Development Agency (Anetel) will transition to the company awarded the tender once operations are handed over.<\/p>\n
Notably, the marina and port will now be treated as distinct projects, each with its own tender process. This approach marks a departure from the earlier combined tender model, in which Kition Ocean Holdings had secured the contract to operate both sites. However, the agreement with Kition was terminated in May after disputes arose regarding the financial guarantee required for the project.<\/p>\n
The government had demanded an \u20ac8 million guarantee from Kition, while the company argued the agreed amount was \u20ac4.2 million. The combined project, initially budgeted at \u20ac1.2 billion, was subsequently split into two separate ventures.<\/p>\n
Despite the setback, Vafeades has advanced the timeline for project completion, targeting September 2026 instead of the previously projected date of March 2027. While no private companies have yet expressed interest in the tenders, Vafeades did not rule out the possibility of one company securing both contracts.<\/p>\n
The new approach reflects the government\u2019s commitment to ensuring the smooth operation of Larnaca\u2019s marina and port while setting the stage for long-term development.<\/p>\n
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