The government is shifting its approach to developing the Larnaca port and marina, recognizing the need for revised plans due to new international conditions.

One idea under consideration is to create infrastructure without residential development, contrary to previous plans. The government is also exploring multiple scenarios, as unified development of the port and marina cannot be guaranteed.

Speaking to Brief, Transport Minister Alexis Vafeades mentioned that the government will soon decide on the development approach, noting substantial interest from investors both domestic and international, including potential involvement from the Cyprus Ports Authority.

Minister Vafeades indicated that announcements regarding the development plans will be made within July, detailing whether the development will be unified or split, along with timelines and project descriptions for both short-term and long-term goals.

There is also the possibility that some projects may begin before an investor is secured.

Discussing potential changes in development strategy, Minister Vafeades mentioned that, given the new conditions, residential development might be excluded in favor of infrastructure projects and other services.

It's worth noting that on May 28, the Larnaca Port came under the control of the Cyprus Ports Authority after a series of events led to the termination of the contract with Kition, as the €1.2 billion investment stalled.

This decision incurred unexpected costs amounting to millions for the Cyprus Ports Authority. Specifically, the CPA requested an additional €8 million, including €2.4 million for equipment rental and handling services, €1.8 million for necessary port and support services, €400,000 for radiology equipment and other port machinery rental and operation, and €1.4 million for awarded compensation costs.