The Cypriot Cabinet of Ministers approved the development project of the port and the marina in Larnaca, said the head of the Ministry of Transport, Communications and Public Works Yiannis Karousos. According to him, in the coming days a contract will be signed with the winner of the relevant tender – a consortium of Eldeman Holding BV and Alexandrou Corporate Services Ltd., representing the interests of Israel and Cyprus respectively.

The Marina in Larnaca is a major project that is expected to start in January and last 15 years. The total investment is expected to be €1 billion and the expected economic benefit to the country is expected to exceed €120 million per annum, while it is expected to generate financial benefits of €120 million per annum in addition to job creation.

Karousos said the project is one of the most important in the country at the moment. He explained that it is about the expansion of the port, the modernization of the marina, the development of areas – including the arrangement of spaces for social and cultural events, the creation and improvement of green areas and pedestrian infrastructure.