Bank of Cyprus will organize a loan of €130 million for the construction of the Limassol marina, after an agreement reached with the construction company, Limassol Marina Ltd.

The agreement was signed by Mr. Vasos Siarlis, Higher General Manager of Bank of Cyprus and Mr. Marios Lanitis, Chairman of the Company’s BoD.

After the signing of the agreement, Mr. Siarlis said that BOCY’s commitment for the finance of this significant projects falls under the bank’s policy to finance big infrastructure projects on the island that will improve the tourist product and will boost growth and construction in a period of crisis.

Mr. Siarlis added that this agreement is a proof that Bank of Cyprus is consistent to its commitments for the support of the island’s economy via the funding of big development projects.

Limassol marina will cost €360 million. “It will be able to host 1000 vessels of different sizes and will include 274 houses and flats as well as restaurants, cafes, bars, shops, gym, SPA and a cultural center”, BOCY announcement said.

The marina will be constructed with the PPP method (Public Private Partnership) and a long-term lease. The companies that participate in Limassol Marina Ltd are Cybarco Plc, Francoude & Stephanou Ltd, J&P Avax, Joannou and Paraskevaides Ltd, Athena SA, CADS Holdings Ltd and Limassol Marina Development Co Ltd.