Cyprus hearings to decide fate of Larnaca marina

The State Review Board is expected to hear the objections raised by two consortia that failed to win the tender for the development and expansion of Larnaca marina on September 11 and 12. The unsuccessful bidders, DJ Karapatakis & Sons and Vouros Consortium, claim this is a scandal and will challenge the Tenders Review Board’s decision to award the contract to the Louis-led Zenon Consortium on July 18, with the right to operate Larnaca as a cruise port for 35 years.
Zenon succeeded with a bid of EUR136 mln against the bid of EUR 536 mln submitted by DJ Karapatakis & Sons and EUR 33 mln submitted by Vouros Consortium. The first objections from Karapatakis will be heard on September 11 and Vouros the following day.
The design-build-finance-operate (DBFO) project is the biggest in Larnaca after the new airport and would set the town apart as a tourist destination in its own right.
The whole development of the project and the surrounding area, which is expected to cost EUR 1 bln in the first phase and up to EUR 3 bln when concluded, will link the marina with the port and turn Larnaca into the main passenger hub of Cyprus accommodating large cruise ships. The marina itself will be able to take in some 800 yachts, up from the present 200.
Running in parallel will be the project for a superyacht facility, five-star hotels, leisure and retail development, all linked via a promenade to downtown Larnaca and its beaches.
Construction work is expected to start at the end of 2009 and will be completed in stages by 2016.
Louis Cruise Line’s parent, Louis plc, has a 22% share in the Zenon Consortium, with Costa Cruises holding 10%. Other partners in the venture include French construction company Bouygues Batiments International, Holland’s Amsterdam Logistics Group BV and Lievense Consulting Engineering, and the Cypriot companies Iacovou Brothers (construction and cement), Petrolina Holdings Public (fuel oil), Marinaman (marina specialist) and The General Construction Co. (civil construction).
Lievense Consulting Engineering will prepare a port master plan for the new cruise facility, marina and superyacht port.