The Larnaca marina and port development project, crucial for economic growth, is at a standstill due to disputes between the government and concession holder, Kition Ocean Holdings. Legal consultations are underway to determine the next steps, including the possibility of terminating the contract and seeking new investors to drive the project forward.
The dispute between Mayor Andreas Vyras and Kition Ocean Port is escalating in Larnaca over new fees and promised renovations. The mayor’s public outcry against the port developer’s actions reflects a deep concern for the impact on local businesses and the community’s economic wellbeing.
The Larnaca port development faces delays as Kition Ocean Holdings fails to renew their €10 million financial guarantee, only committing €4.2 million. The government is considering legal actions and the potential takeover of the port’s operations if necessary to ensure the project’s progress.
The Larnaca marina and port development project is set to kick off in June, promising to revamp the coastal town and boost tourism and economic growth. With a commitment from developer Kition Ocean Holdings, this transformative infrastructure initiative aims to redefine Larnaca’s maritime identity and create new job opportunities.
