Larnaca mayor

Larnaca port and marina developer renewing financial guarantee

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Larnaca port and marina developer renewing financial guarantee

Kition Ocean Holdings has agreed to renew their financial guarantee for the development of Larnaca’s port and marina. The amount of the financial guarantee under the contract is €10 million, but the consortium has currently placed €4.2 million. The guarantee is expected to be deposited in the coming days to allow the project to continue according to the contract terms. President Nikos Christodoulides chaired the meeting where this agreement was reached.

In search of a solution for the Larnaca marina billion project

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In search of a solution for the Larnaca marina billion project

A €1.2 billion investment in the development of a port and marina in Larnaca is facing challenges as the state and Kition Ocean Holdings try to prevent a potential fiasco. The President of the Republic is involved in resolving the deadlock, with tensions rising after Kition refused to renew a port guarantee and made accusations against the government. Efforts are being made to find a resolution, with the President meeting with Kition officials and the Larnaca Development Committee convening to address the issues. The project is expected to start in June, and the Audit Service is monitoring the situation closely.

Larnaca port and marina €1.2 billion project faces growing uncertainty

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Larnaca port and marina €1.2 billion project faces growing uncertainty

The future of the €1.2 billion investment in the port and marina of Larnaca is uncertain, causing concerns among stakeholders. Larnaca Mayor and Chamber of Commerce president express disapproval over the lack of transparency in the agreement between the government and Kition Ocean Holdings. Larnaca MPs are pressuring for more information and updates on the project, highlighting the need for transparency and the importance of keeping stakeholders informed.