Larnaca marina project a ‘historical milestone’

The Larnaca marina and port project, which was inaugurated on Friday, represents an historic milestone, which would greatly contribute to the development of the city and the entire country in the coming years, President Nicos Anastasiades said.
With a budget of €1.2 billion, the Larnaca marina and port represents the largest infrastructure investment ever on the island. Works on the site began last week.
Along with Anastasiades, Transport Ministry Yiannis Karousos was among those present at the inauguration.
“I want to express mine and the government’s satisfaction for yet another successful project that is now underway in our country, one that was on the cards for decades,” Anastasiades said.
Plans for expanding and privatising the Larnaca marina have been plagued by years of delays and failure to find investors.
Kition Ocean Holdings Ltd, the Israeli-Cypriot consortium awarded the tender in 2020, aims to make space for 600 berths for yachts of up to 115 metres at the port.
In addition to the marina upgrade, the project enhances the road network and the creates infrastructure for residential, commercial, social and cultural use.
Anastasiades added that the entire project will create from 3,000 to 4,000 jobs and will attract huge interest from foreign companies.
“Moreover, it will greatly benefit our tourism industry and our economy, as we estimate it will generate a revenue of over €120 million per year.
“The port and marina project is only the latest project that have revitalised the city of Larnaca in the past few years, which have all contributed to its transformation into a modern European city, one where it is great to live and to do business.”