Kition Ocean Holdings‘ major investment project for Larnaca’s port and marina has been officially terminated by the Cypriot government.
According to philenews, the government acted on the advice of the Law Office, which viewed Kition’s refusal to renew the guarantee for Larnaca port as a breach of a critical contractual term.
This refusal is said to have caused a rift between the two parties.
The government is now preparing a termination letter to formally end the project.
This story will be updated.
Read more:
termination letter. investment project, Larnaca’s port, termination