New marina for Pathos
From "FOH News" on 17 June 2008
A spokesperson for Leptos told OPP that the marina project would cost over €70million to build and include a substantial residential component, leisure facilities and a 1,000 boat capacity.
Announcing the news, Commerce Minister Antonis Patsalides revealed that the marina would be built in the Potima area of Paphos and said that competition for the project had been stiff between the front-runners, with Aristo believed to be the other main bidder.
The winning consortium, alongside Leptos, is made up of Cybarco, JNP Avax, Francoudi & Stephano and Athena & KAT.
Conditions of the contract state that work must begin on the project immediately with completion due in three years. The consortium will have to pay the government an annual rent of €4million for 19 years.
Regional development
The Paphos marina is just the latest in a long-line of new development projects that have been awarded, or are due to be allocated in the near future.
In February the Cypriot government awarded another consortium consisting of J&P Avax, Cybarco, Frangoudi & Stephanou, Ioannou & Paraskevaides, Athena ATE, CADS Holding Ltd and the Limassol Chamber of Commerce and Industry through the Limassol Marina Development Company, the contract to build the new Limassol marina.
Also containing room for 1,000 berths, the Limassol Marina will comprise of residential, dining, shopping and conference spaces and will cost over €170million to build.
Cypriot Tourism Minister Antonis Michaelides said at a recent press conference that the contract to build a new marina in Ayia Napa is also due to be awarded soon and that the Ministry is in ‘advanced negotiations’ for the 600-berth development.
The Cypriot government believes that the marina developments being built around the country will help give it an edge over Israel, Greece and Turkey as the region’s sailing hub.
