Projects for Limassol estimated at 400 million euros, says President Anastasiades

Projects in Limassol District that have been implemented or are in progress since 2015, are estimated at 400 million euros, said President of the Republic Nicos Anastasiades on Tuesday adding that some projects are now included in the Financial Framework 2019-2021.

Speaking at a meeting in Limassol with city and district officials at the Town Hall, the President said that the meeting was imperative due to the delay that many projects are facing from unprecedented bureaucracy and multiple disparities or overlapping powers.

He also noted the “unacceptable phenomenon observed lately by a number of contractors who do not honor their contractual obligations, and as a result the contracts are cancelled and tenders reopen, creating further significant delays in the implementation of the projects affected.”

The President of the Republic made special reference to the commercialization of Limassol port from which, he said, recorded an increase in fiscal revenue from January 29, 2017 when the port came under a private administrator. In the first quarter of 2018, government revenue amounted to Euros 58.9 million, compared with Euros 36.4 million in the same period in 2017 and Euros 34.2 million in the same period in 2016.

At the same time, the investments made by the trading partner in the port should be taken into consideration, amounting to some 113 million mln – of which 36 million concern 2018 year.

He also noted that the projects concerning Limassol port that have been completed “not only secure the port’s prospects for the coming decades but also significantly enhance the efforts to promote Cyprus as a modern and important regional center of tourism, shipping and trade in the Eastern Mediterranean.

The President said that the launching of the Deputy Ministry of Shipping, in conjunction with tax incentives, have led to the relocation to Limassol of a number of shipping companies while 52 new ships have been registered in the first five months of 2018.

The president made particular reference to the operation of the casino resort and announced that the foundation stone laying ceremony will be held on 8 June.

He referred to the significant benefits of its operation as it is expected to attract over 300,000 additional tourists per year to bring a revenue of 700 million per year year and create 6,500 jobs.

For the city’s new football’s stadium, the President said that because of the many problems that have arisen there has been a delay, adding it is an imperative project for the city and expressed certainty that a solution will be found without violating EU regulations since the EU Competition Commission considers the state grant as aid to the football club.

The President also said that discussions have been completed with the German Oncology Centre that is situated at Agios Athanasios and within the next seven to eight days, the government will sign an agreement with the centre to provide services to cancer patients in Limassol and Paphos.

He also pledged that the Cyprus University of Technology (TEPAK) will remain in the city centre adding that only student hostels will be housed at the Verengaria housing estate.

The meeting in Limassol was held in the presence of the ministers of Interior, Justice, Health, Transport, Agriculture and the deputy Minister of Shipping.

Source: Cyprus News Agency