Both options are on the table - Either Kition remains, or the project is taken from them. Τhe reporting of the Legal Service is in the hands of the Minister of Transport, after Kition failed to deposit the guarantee.

The content of the report has not been disclosed yet, however, it is estimated that the instructions of the Legal Service concern the termination of the contract with the management company because the failure to deposit the guarantee by Kition is considered a material breach of the contract.

At the same time, the government is considering the data, as the solution to be provided must be not only legal, but also beneficial for the Republic of Cyprus. As known, the two options concern either the termination of the contract with Kition, allowing the Republic of Cyprus to take over the port and marina, or the continuation of the contract with the management company, which, according to an agreement, should proceed with projects worth €1.2 billion.

Commenting on the developments, the Minister of Transport, Alexis Vafeiadis, stated that he has received the reports requested and is proceeding with an evaluation of the data. Moreover, as Mr. Vafeiadis added, it is estimated that a solution to the problem will be found within the next two weeks.

In the same vein, are the statements made yesterday by the President of the Republic, who, when asked, stated, "It is a significant development, which as a government, we fully support. At the same time, those who wish to participate in such significant projects should be able to comply with the basis of the agreements and contracts signed. Very soon, this particular issue will be resolved. That's our hope, as our intention and effort is put into having a positive outcome for this particular issue."

If the contract with the company is terminated, then the state will have to immediately take over the management of Larnaca's port and marina, as under no circumstances can their operation be interrupted, not even for a very short period of time. 

This is also the reason why the authorities are treating all developments with special attention, as the issue is particularly serious and before any decision is made, the state must be ready to take over management.

Specifically, the termination of the contract will be put into immediate effect, and thus the state must be prepared to renew, even temporarily, some contracts with other companies operating in Larnaca's port and marina and which have a contract with the company, in order to ensure the smooth operation of the port, while at the same time, the Republic of Cyprus is expected to take legal action against the company seeking compensation.