The city of Larnaca faces significant delays in the execution of crucial infrastructure projects worth €30 million due to a licensing standoff with Kition Ocean Holdings Ltd. Local authorities demand that these mature projects be prioritised over the broader development of the port and marina, citing pending directives from Kition’s legal team.

Transport Minister Alexis Vafeades assured StockWatch that the government remains committed to executing these projects before the larger port and marina developments, pending a resolution with Kition. This includes paying the €800,000 owed by Kition for various planning and building permits.

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These mature projects include upgrading the deteriorating marina, repairing the pier, and developing essential facilities such as the yacht club, police and customs offices, and government buildings for passport control. Additionally, plans include creating retail spaces, restaurants, green areas, and sports facilities to enhance the marina’s attractiveness.

Mayor Andreas Vyras stressed the urgency of decoupling these projects from Kition to expedite their implementation using state funds. The President of Cyprus has pledged to find a solution to liberate these projects from the current impasse and ensure their swift execution.

Minister Vafeades is finalising a report outlining all potential development scenarios with their respective pros, cons, and timelines. This report will be reviewed by the President, who will decide the optimal path forward for the development of Larnaca’s port and marina.