ECONOMY

TAIPED cancels Afandou tender

State privatization fund TAIPED said on Wednesday that it is cancelling a tender for the utilization of a state-owned plot at Afandou on Rhodes and will be launching a new competition once changes have been made to the proposal.

The decision comes after a meeting with interested investors and local bodies as part of the process to assess the environmental impact of the project concluded that the tender could not proceed without changes to its terms and conditions.

TAIPED chose to cancel the process and to proclaim another tender in the coming months based on the changes that have been decided. These will focus on the northern section of the plot, which hosts a golf course, while more emphasis will be placed on tourism and recreation development as these have attracted more investor interest and will have a limited impact on the environment.

The new tender will also be held in one stage, with bidders submitting binding offers from the onset.