News Local €1.2b investment proposed for Larnaca port and marina

€1.2b investment proposed for Larnaca port and marina

The AMPA & Israeli Shipyards consortium has submitted a €1.2b bid for the redevelopment of Larnaca port and marina, including a commercial and residential development on 220,000 square metres of land around the port and marina, Philenews reported on Friday.

The consortium is proposing to develop the port so that that it can service larger ships, to expand the piers and quays, to build a modern passenger terminal develop the marina and to construct residential and commercial areas.

The proposed investment is estimated at €1.2b. The consortium –made up of Israeli and Cypriot companies – has set up a new company, Kition Ocean Holding, that will negotiate the bid with the state.

Philenews said that that the next phase is that of clarifications and negotiations which are expected to conclude early in 2019.

The redevelopment of Larnaca port and marina has been  a long standing demand of the town.

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