Marina

Larnaca port workers anxious after marina project collapse

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Larnaca port workers anxious after marina project collapse

The government terminated its contract with Kition Ocean Holdings, causing concern among employees about their future. Trade unions met with the Minister of Labour to ensure workers’ continued employment would be prioritized. The government plans to follow labor laws in handling the situation. The Municipality of Larnaca expressed solidarity with the employees, while PEO opposes the privatization of Larnaca Port and demands protection for Kition workers. The General Secretary of OMEPEGIE-SEK stated that the Minister of Labour assured them that the workers would be employed under a new regime to prevent victimization.

Our View: Larnaca marina project was far too ambitious

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Our View: Larnaca marina project was far too ambitious

The termination of the contract for the development of the Larnaca port and marina was due to a loss of trust and breakdown in communication between the contractor Kition Ocean Holdings and the government. The government sought legal advice and decided to terminate the contract after the company refused to pay the guarantee amount. The Kition CEO blamed the government for the project’s failure, stating that changes were needed to make it viable. The government acknowledges mistakes were made and plans for the project were over-ambitious, making it unviable. If a new company takes on the project, plans need to be modified and scaled down.

Larnaca Marina: Government activates “Plan B,” seeks new investors

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Larnaca Marina: Government activates “Plan B,” seeks new investors

The government has terminated a 1.2 billion euro investment contract with Kition Ocean Holdings for the development of Larnaca port and marina due to the contractor’s failure to renew a required guarantee. The government will seek compensation and pursue outstanding guarantees through legal channels. “Plan B” involves re-tendering the project, with the state ready to operate the port without interruption. Kition did not participate in a meeting to discuss the transition process. The government remains committed to the project and will evaluate what went wrong in the contract.

Le Sundeck Robuchon opens for Summer 2024

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Le Sundeck Robuchon opens for Summer 2024

Fact: The Grand Opening Party of Le Sundeck Robuchon at Ayia Napa Marina took place on May 24, featuring distinguished guests, unique cocktails, exquisite culinary creations, and a live performance by Cypriot singer Hovig.

Govt scraps Larnaca marina project (updated)

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Govt scraps Larnaca marina project (updated)

The multibillion Larnaca port and marina project was scrapped due to Kition Ocean Holdings being in breach of contract.

Larnaca Marina project officially terminated

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Larnaca Marina project officially terminated

Kition Ocean Holdings’ investment project for Larnaca’s port and marina has been officially terminated by the Cypriot government due to Kition’s refusal to renew the guarantee for the port, which was considered a breach of contract.

Our View: Investigate costly project disputes inherited by government

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Our View: Investigate costly project disputes inherited by government

The government is currently dealing with disputes with big project contractors, including the potential termination of contracts for the Larnaca port/marina and Vassilikos gas terminal projects. These disputes have arisen due to major disagreements over costs, with some projects heading for costly legal battles. The government has also faced challenges with road construction projects, with disagreements over costs and delays. The government has inherited these issues from the previous administration and may be facing significant financial consequences as a result.

Our View: President acting as deus ex machina needs to end

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Our View: President acting as deus ex machina needs to end

Presidents of the Republic have historically acted as mediators in disputes, trying to find compromises and solutions. However, recent instances where the president intervened in disputes involving big companies from abroad, such as Kition Ocean Holdings and Chevron, did not yield positive results. This has raised questions about the president’s role in such matters and whether ministers should be left to handle them instead.

Delicate handling must come to an end

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Delicate handling must come to an end

The construction of the liquefied natural gas terminal at Vassiliko in Cyprus has been plagued with delays and cost increases, with the project not even halfway completed. The project was awarded to a consortium of Chinese, Greek, and Norwegian interests, with the hope of reducing electricity costs for citizens. However, additional costs have been incurred, such as €25 million due to steel price increases during the pandemic. The Audit Office report highlighted serious political responsibilities for the management of the project by the government. The consortium has filed a case demanding an additional €200 million due to delays. The situation is similar with the Larnaca Port and Marina project, where the company has been collecting revenues without starting the agreed-upon works. Overall, these projects have put the Cypriot citizens at risk of bearing additional costs without seeing the completion of the projects.

Akel speaks out against quarry expansion

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Akel speaks out against quarry expansion

Akel strongly opposes the government’s decision to proceed with a tender for an environmental impact assessment and ecological study for a potential new quarry zone in the area of Androlikou, near Polis Chrysochous.