Poseidon Grand Marina offered Paphos marina contract

The Ministry of Energy, Commerce, Industry and Tourism said that Poseidon Grand Marina of Paphos was the successful bidder in a competition for the construction of a marina in Paphos with a capacity of 1,000.

“Following the decision of the Marina Management Committee today, the implementation of a very important infrastructure project will begin in the Paphos district and Cyprus, which was planned more than ten years ago,” the ministry said in a statement on the website of the Press and Information Office on Tuesday. The project which will include more than 42,000 square meters in housing and commercial development, the ministry added.

The decision to notify by letter the Poseidon Grand Marina of Paphos, a joint venture in which Aristo Developers is a major stakeholder, that it can go ahead with the implementation of the project was taken after the Legal Service advised the government to do so, the ministry said.

“In the letter in question, the successful bidder is asked to submit all data required and to subsequently sign the award contract according to the terms of the completion launched in 2006 for the design, construction, finance, operation and transfer of the proposed Paphos Marina,” the minister added.

The delay in awarding the project to Poseidon Grand Marina of Paphos is related to a legal battle which broke out after another consortium, Cybarco-Pandora won the competition in 2007 and ended in December, with a Supreme Court ruling in favour of Poseidon Grand Marina of Paphos.

By Stelios Orphanides

Copyright © Cyprus Mail

Paphos Marina expected to attract new tourists

The chairman of the Paphos Commerce and Industry Chamber Andreas Demetriades said that the development of the Paphos marina will have a positive multiplier effect on all other sectors of the local economy, according the Cyprus News Agency (CNA).

He added that the marina which will accommodate for more than 1000 yachts will increase Papho’s tourist product as it will attract more and new tourists from neighboring countries.

According to Demetriades the Marina will be built in a 155 thousand square metres of land from which 40 thousand will be used for residential purposes.

The marina will be built in the area of Potima between Kissonerga and Pegeia and it is expected to satisfy the increasing demand form yacht owners from Greece and Asia Minor, according to Demetriades.

Last week the Supreme Court excluded the joint-venture Cybarco-Pandora from undertaking the Paphos Marina project and initiated negotiations with the second in line successful applicant Poseidon Grand Marina joint-venture, in which Aristo developers is a major shareholder.

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Green light for Paphos marina

Officials in Paphos have welcomed the announcement by Aristo Developers that the long-awaited marina project will soon get underway, following a ruling by the Supreme Court.

On Monday, the court announced a judgement in favour of applicant ‘Poseidon Grand Marina’, a joint-venture, in which Aristo developers is a major shareholder.

Head of the Kissonerga community council George Stylianou told the Cyprus Mail: “There is now finally a decision, and we now expect the winning consortium to start building this project as soon as possible. There are only draft plans at the moment, but once building plans have been passed and permits granted, we hope that they will be in a position to commence work next year.”

The head of the Paphos Chamber of Commerce, (EVE) Andreas Demetriades, welcomed the news saying that EVE had requested that the president of the Supreme Court issue the relevant documents around three months ago.

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