A meeting, chaired by the President of the Republic, Nikos Christodoulides, regarding the integrated development of the Larnaca port and marina, is taking place today at 11:00 at the Presidential Palace. Representatives from Kition Ocean Holdings and Aroundtown, the Mayor of Larnaca, the President of the Chamber of Commerce, the Assistant Attorney General, and the Director General of the Ministry of Transport will participate in the meeting.

As stated on Friday by the Government Spokesperson, Konstantinos Letympiotis, "the President of the Republic had publicly expressed his intention to hold this meeting," which will take place on Monday, April 15, at 11:00 in the morning at the Presidential Palace, "to discuss the issue concerning the project."

It was noted that there was a statement from the responsible Minister that the company was unwilling to submit a guarantee letter and when asked if the Government discerns any change in the company's attitude, Mr. Letympiotis said that "so far we have not discerned any change" and that is the reason, as he said, "why the meeting at the level of the President of the Republic will also take place, precisely to discuss these issues, which have preoccupied the government and the local community in the previous period."

The company took over the key to the port and marina from the previous government on April 1, 2022, and as announced, would commence the first phase of the €1.2 billion project in April 2023. The latest extension secured by the company for the commencement of major works expires in June.

As the Minister of Transport, Alexis Vafeades mentioned, the company violated a substantial condition of the contract, since it did not renew the last guarantee letter worth €10 million. He also mentioned that the state has the right to cash in the remaining guarantees that are in effect.

The company claims it submitted requests for modification of the project implementation phases, which are necessary for its sustainability, and that a disagreement arose between Kition and the Government regarding the calculation of the amount of the guarantee that was not renewed. The company also argues that the Government refused to participate in the process of re-determining this amount, as provided by the Contract. The company filed a petition in court requesting a court order instructing the Government to follow the Contract.