ECONOMY

Larnaca port tenders

NICOSIA (Reuters) – Cyprus yesterday announced the submission of three tenders for the development and expansion of Larnaca marina and port by private investors. Vouros Investments Ltd, the Larnaca-Zenon joint venture and D.J. Karapatakis and Sons Ltd were the three consortiums who submitted bids, Communications and Works Minister Maria Malaktou-Pampalli told a news conference in Nicosia. «Once the project is completed Larnaca port will become the main passenger port in Cyprus and large cruisers will be able to moor there,» Malaktou-Pampalli said. «This will be the biggest infrastructure project in Larnaca after the new international airport,» she added referring to the new -600 million terminal due to be completed in 2009. The minister said that around 1,000 vessels would be able to berth at the new Larnaca marina compared with the 400 it can handle today. The project, which has been in the pipeline for 13 years, envisages the new marina being up and running by the end of 2010, the Ministry’s Permanent Secretary Makis Constantinidis told Reuters. He said it was hard to put an estimate on the cost of the multimillion project as it would also encompass development of Larnaca port into a passenger terminal as part of a second phase. Constantinidis was also unable to cite the capacity of the new passenger terminal. «It’s a unified project and it’s going to be (the contractor’s) baby,» he said. «It will be up to them and hopefully if everything goes well, we will make a decision by the end of the year.»