The Cyprus government and Hermes Airports Joint Venture have entered the final stage of agreement for the construction of the Larnaca and Paphos Airports with the BOT method, Transport Minister, Haris Thrasou said on Friday. “There is no disagreement between the two sides. The negotiations showed that we are very close. At the current stage, the legal advisors are reviewing the agreement. By the end of the month, things will be clear”, Mr. Thrasou said after the presentation of the operational system of the Larnaca and Paphos Airports with the BOT method.

However, no decision has been taken with regard to the operation of the existing airports until the completion of the project. “We would like to include the provisions for the improvement of the existing airports. The cost is expected to reach 4-5 million euros”, Mr. Thrasou said.

Finance Minister, Makis Keravnos avoided to refer to the anticipated benefits from the construction of the new airports. “We shouldn’t talks about those issues before reaching the final agreement”, the Minister said. Mr. Thrasou noted that on security issues there is no disagreement between the two parties. The investor will supply the equipment and the government will take the responsibility.