The increased rainfall in the past few weeks will probably cause a delay in the delivery of the six lanes of Nicosia – Limassol highway to late June instead of March, which means that inconvenience for the drivers will be extended.
Public Works Manager, Alecos Michaelides told StockWatch that the latest rainfalls impeded the construction works for the three lanes heading to Nicosia. This means that the completion and delivery of the project will be transferred in June instead of March that the construction company expected.
“Also, the second phase of the project, for the three lanes heading to Limassol and Larnaca, will be finalized in late 2011 if everything goes as planned”, he said.
Mr. Michaelides said that the construction projects of GSP interchange to the western and eastern areas will be finalized in May.
The whole project will be completed in mid 2012.
The cost of the first by Cybarco Ltd/Iacovou joint venture will reach €32.4 million plus VAT and the second by Miltiades Neophytou €21.5 million plus VAT.
Public Works Manager, Alecos Michaelides told StockWatch that the latest rainfalls impeded the construction works for the three lanes heading to Nicosia. This means that the completion and delivery of the project will be transferred in June instead of March that the construction company expected.
“Also, the second phase of the project, for the three lanes heading to Limassol and Larnaca, will be finalized in late 2011 if everything goes as planned”, he said.
Mr. Michaelides said that the construction projects of GSP interchange to the western and eastern areas will be finalized in May.
The whole project will be completed in mid 2012.
The cost of the first by Cybarco Ltd/Iacovou joint venture will reach €32.4 million plus VAT and the second by Miltiades Neophytou €21.5 million plus VAT.
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