The Cyprus government has scrapped a €1.2 billion concession for the development of the Larnaca marina and port, leading to questions about the financial viability of public contracts and the administration’s cash flow.
Workers at Kition Ocean Holdings, operator of the Larnaca marina and port concession, will be rehired by the state, securing 70 jobs just before the next mayoral and European elections.
Labour Minister Yiannis Panayiotou reiterated his support for the trade union Segdamelin Peo during a meeting with the Larnaca marina and port managing company Kition Ocean Port. The issue discussed was the company’s decision to employ external contractors for overtime work, which violated the agreement made with the workers in February.