Minister of Transport, Communications and Works Alexis Vafeades presented on Friday the Ministry’s 2025 budget before the House Finance Committee. The discussion during the Committee meeting focused mainly on the traffic congestion and ways to address it.
Vafeades said before the Committee that in addition to the two transfer stations operating today in Nicosia (in Alhambra and GSP), 4 more Park and Ride areas are under study in Kalo Chorio, Aradippou, Kato Polemidia and Agios Tychonas. Moreover, plans are underway for the construction and installation of stands and canopies throughout Cyprus, worth pound 36.7 million (plus VAT).
The Ministry’s plans also include the construction and improvement of bus stations, the purchase of 28 small electric buses and 40 large buses worth approximately pound 15 million, the construction of bus lanes on the TRAM axes in Nicosia, worth pound 4.2 million plus VAT and the introduction of intelligent transport systems.
He informed MPs that almost pound 25 million will be a
llocated in 2025 for retirement plans for old vehicles and the purchase of new electric vehicles, as well as for the installation of charging stations.
Moreover, he said that electric vehicle registrations show an increase since until August 2024 a total of 1,107 vehicles were registered, compared to 995 in 2023 and much less in previous years.
According to the Minister’s presentation, there are projects of a total of pound 830m that are underway or will start within 2025.
The main projects are the new Cyprus Museum in Nicosia, which is expected to be completed in 2026, the Astromeritis – Evrychou highway with a total cost of pound 88.6 million and an estimated completion time of October 2025, the Paphos – Polis Chrysochous highway (Phase A’ ) with a total cost of pound 86.9 million, the Nicosia – Palechori highway with a cost of pound 77.6 million and a completion date of September 2026 and the first phase of the Limassol – Saittas highway with a cost of pound 31.1 million, with completion within new year
.
Other projects, he said, of pound 257 million are being implemented by other Ministries.
It is noted that the budget for 2025 is increased by 11.7% or pound 54.3 million.
Revenue for 2025 is expected to be pound 373.2m compared to pound 343m in 2024, while expenditure is expected to be pound 344.6m with an increase of 10.5%. Development costs, including co-financed projects amount to pound 209.3 million with an increase of 10.3%.
The Minister said that 2024 recorded the highest passenger traffic ever in Cyprus airports with an estimated number of passengers of 12.2 million, a 5% increase compared to 2023 and 8.4% increase compared to 2019.
Passenger traffic at Larnaca Airport is expected to reach 8.6 million based on estimates, with an increase of 6.6% in 2024 compared to 2023 and 3.6 million passenger traffic in Paphos with an increase of 1.3% compared to 2023, he added.
Vafeades said there is connectivity with 38 countries through 55 airlines and 156 routes are operated compared to 153 in 2023 and 1
47 in 2022.
Regarding the port of Limassol, he said that more than 417 million euro of revenue have been recorded for the state to date with an upward trend of revenue. Referring to the port of Larnaca, he said that its management and operation has been taken over by the Ports Authority for a temporary transitional period. He said that the public consultation is ongoing and that documents are being prepared for the purchase of consultant/expert services for the subsequent promotion of the project.
Source: Cyprus News Agency