The Cyprus Marine and Maritime Institute (CMMI) will operate before the end of 2024 bringing considerable benefits to Larnaca, the town’s mayor Andreas Vyras told the Cyprus News Agency.
The CMMI will be an independent, international, scientific and business Centre of Excellence for Marine and Maritime activities and will carry out research, technological development and innovation activities (RTDI) to provide practical solutions to the challenges that the marine and maritime industry, and society, face or will face in the future.
Vyras said the final plan for the ambitious project was presented in mid-July by municipal engineer and coordinator of the Maritec-X programme Andreas Karakatsanis.
“The Institute will be in full operation as an autonomous, self-financing organisation before the end of 2024,” the mayor said.
The municipality hopes to reap significant benefits from the project which secured EU financing.
“Last March the project secured 30 million euro in financing so implementation will start soon,” he said.
The main premises will in the Mackenzie area on a plot that was approved by the Custodian of Turkish Cypriot properties and is close to the small roundabout. Initially, it will be 35,000 square metres big,” he said.
There is plenty of room for future expansion he added.
The plot is next to the sea with easy access to the airport and the port and already a number of organisations have expressed an interest to set up in that area, he said.
The main pillars of the centre will be an entrepreneurship unit, the innovative products centre and the labs. It will operate as a non profit company with the status of a public organisation.
The Institute will have a 25 member board with three representatives from the public sector, eight academics, five representatives of social organisations, eight from the manufacturing sector and an executive director.
The technical specifications of the buildings will be ready by October 2019 while Research, Technology, Development and Innovation activities will start of October 1 this year in temporary facilities.
The required staff will be hired by the end of 2019 and the building should be ready by the end of 2021. By 2024 the Institute should be operating as a self-financing organisation.