{"id":8912,"date":"2024-04-20T00:00:10","date_gmt":"2024-04-19T21:00:10","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=8912"},"modified":"2024-04-20T00:00:10","modified_gmt":"2024-04-19T21:00:10","slug":"larnaca-port-and-marina-financial-guarantee-still-not-received","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=8912","title":{"rendered":"Larnaca port and marina financial guarantee still not received"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/04\/larnaca-port-and-marina-financial-guarantee-still-not-received.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>Transport Minister Alexis Vafeadis on Friday said the contractor company\u2019s <strong>guarantee for the unified development of the Larnaca Port and Marina has not yet been received.<\/strong><\/p>\n<div class=\"cypru-video-ads\" id=\"cypru-1982380148\">\n<div id=\"cypru-57836884\" data-cypru-trackid=\"478051\" data-cypru-trackbid=\"1\" class=\"cypru-target\">\n<div id=\"gpt-ad-9700555415567-0\">\n<\/div>\n<\/div>\n<\/div>\n<p>He noted that a <strong>two-day deadline will be granted<\/strong>. If the guarantee is not provided by then, instructions will be sought from the Legal Service.<br \/>\nThe minister was making remarks during a discussion and briefing by the Larnaca Urban and Rural Development Committee on the progress of the Larnaca Port and Marina Unified Development Project.<br \/>\n\u201cWe want this specific project to be implemented, and we will do whatever is necessary within the framework of legality to implement it,\u201d he stressed.<br \/>\nKition Ocean Holdings, the consortium responsible for the development of Larnaca port and marina\u00a0revamp, has recently agreed to renew their financial guarantee after a meeting chaired by President Nikos Christodoulides on Monday at the Presidential Palace.<br \/>\nThe amount of the financial guarantee under the contract amounts to \u20ac10 million. Up until Monday, the amount placed by the consortium stood at \u20ac4.2 million.<br \/>\nThis development came after the consortium <strong>filed a case against the government for causing delays and breaching contract<\/strong>, claiming the government was unwilling to meet the company to discuss a difference in a financial guarantee.<br \/>\nSpeaking on Friday, the transport minister referred to the details of the communications with the company so far. He mentioned Monday\u2019s meeting held at the Presidential Palace under the President Nikos Christodoulides. The minister said that the president did not delve into technical matters and that it was agreed the transport ministry would look into the issues raised by company once the guarantee is submitted<br \/>\n\u201cThe company said it was willing to submit it\u2026This happened on Monday, April 15. Today is Friday, April 19, and we have not yet received the guarantee letter\u2026we will wait until Monday, Tuesday, April 22-23, and if it is still not provided, things will be different,\u201d he said.<br \/>\nHe noted that \u201cthe <strong>guarantee is an essential term of the contract<\/strong> and is not something that the state can accept or reject.\u201d<br \/>\nSo far, none of the company\u2019s requests have been examined nor have they even been referred to any committee for consideration.<br \/>\n\u201cThe contract needs to return to normal, which will occur once the guarantee is submitted,\u201d the minister stressed.<br \/>\nHowever, he noted that competent committees require time to review the contractor\u2019s requests. Hence, resolving these matters may take longer than a week, as some requests require input from other departments like the Town Planning and Housing Department.<br \/>\n\u201c<strong>I do not claim that the whole process will be a smooth ride;<\/strong> anything can happen, but I want you to know that the way we approach the project is of utmost importance; it is of national interest, and it will take our country forward. We want it to be implemented, and we will do whatever is necessary within the framework of legality to implement it.\u201d<br \/>\nLarnaca\u2019s Mayor Andreas Vyras, echoed concerns about project delays, emphasising the need for timely action to ensure the commencement of construction work. Vyras highlighted the company\u2019s forthcoming visit to obtain building permits, signaling progress despite ongoing challenges.<br \/>\nMembers of the Larnaca Urban and Rural Development Committee expressed apprehension over the project\u2019s timeline, with construction expected to begin in June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; Transport Minister Alexis Vafeadis stated that the contractor company&#8217;s guarantee for the unified development of the Larnaca Port and Marina has not been received yet.<br \/>\n&#8211; A two-day deadline will be granted for the guarantee to be provided, after which instructions will be sought from the Legal Service.<br \/>\n&#8211; The financial guarantee under the contract amounts to \u20ac10 million, with the consortium having placed \u20ac4.2 million so far.<br \/>\n&#8211; The consortium filed a case against the government for causing delays and breaching the contract.<br \/>\n&#8211; The guarantee is an essential term of the contract and needs to be submitted for the project to move forward.<br \/>\n&#8211; Competent committees require time to review the contractor&#8217;s requests, which may take longer than a week.<br \/>\n&#8211; Larnaca&#8217;s Mayor emphasized the need for timely action to ensure the commencement of construction work on the project.<\/p>\n","protected":false},"author":3,"featured_media":8913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[4039,2134,1031,5702,2577,2144,1625,2220,7176,3,1381,2852,3818,6505,250,3330,415,7177,6654,899,2796,6255,157,1092,6234,7178,4832,6693,5319,347,4086,1346,3331,193,6971,1220,4843,503,3840,4753,1623,4441,907,364,6129,4100],"class_list":["post-8912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-building","tag-challenges","tag-christodoulides","tag-committee","tag-concerns","tag-consortium","tag-construction","tag-construction-work","tag-contractor-company","tag-cyprus","tag-deadline","tag-delays","tag-development","tag-financial-guarantee","tag-google","tag-google-news","tag-government","tag-guarantee","tag-housing","tag-interest","tag-issues","tag-kition-ocean-holdings","tag-larnaca","tag-larnaca-port","tag-larnaca-port-and-marina","tag-larnaca-port-and-marina-unified-development-project","tag-legal-service","tag-legality","tag-letter","tag-marina","tag-mayor","tag-meeting","tag-news","tag-nikos-christodoulides","tag-permits","tag-port","tag-president","tag-president-nikos-christodoulides","tag-progress","tag-project","tag-revamp","tag-service","tag-transport-minister","tag-transport-ministry","tag-unified-development","tag-visit"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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