Kition CEO demands revival of stalled Larnaca Marina project

CEO and founder of Kition Ocean Holdings, Panos Alexandrou, has spoken exclusively about the ongoing efforts to realise the much delayed redevelopment of Larnaca marina.

“Throughout my life, I have learned to fight for the interests of my country, to pursue my ideas and visions with persistence,” Alexandrou said.

“The non-execution of this project represents a huge and unfair loss, not only financially but socially, for the residents of Larnaca and for Cyprus.”

Alexandrou highlighted the extensive support the project has historically received from both Larnaca municipality, the finance ministry as well as the transport ministry.

Asked about the current status of the project, Alexandrou emphasised that the original agreement could still be implemented without alteration.

“If the government wishes to revive the contract, I am ready to commit through bank guarantees to ensure the immediate commencement and proper execution of the infrastructure projects, according to a mutually agreed timetable.”

The project had received the necessary permits for the main infrastructure work just before its termination in March 2024.

Its halt followed a disagreement over financial guarantees, with the government requesting €8 million and Kition Ocean holding that €4.2 million had been agreed.

Despite this setback, Alexandrou remains confident that the project can resume.

Transport Minister Alexis Vafeades has recently signalled progress in the redevelopment, promising continued consultations with local communities and the preparation of expert studies to guide the next steps.

He expressed optimism that work would start soon and described ongoing projects such as marina dredging and infrastructure upgrades as crucial to ensuring smooth operations and safety.

“We want a very smooth entry and exit for the marina and this will provide additional safety to all those using it,” Vafeades said.

Alexandrou urged both the government and stakeholders to focus on practical progress over political considerations.

“There is no time for games or egos,” he insisted.

 “At the end of the day, we will be judged by the work we have done and left behind.

If we truly care about the interests and progress of this place, and if our priority is serving the public interest, we have no choice but to give the project a chance to continue,” he concluded.