The two final agreements that signal the start of the construction works of Limassol marina were signed today by Commerce Minister, Antonis Paschalides. During e ceremony held at the Commerce Ministry, the Minister signed a supplementary contract as well as a contract for the offsetting measures that will be undertaken by the administrator, Limassol Marina Ltd.

During the ceremony, M. Paschalides referred to the huge importance that the marina is expected to have for the improvement of the tourist product and the attraction of quality tourism to the island.

In his welcome speech, the Minister noted that the government supports the infrastructure projects and backs the projects that open new job posts and enrich the island’s tourist product.

“This day signals the start of constructions of the Limassol marina, a landmark for Limassol, for Cyprus and the Mediterranean in general. The marina is a sea settlement with special characteristics”, he said.

“It can host the anchoring of thousands of vessels and includes banking up in the port space, a vessels maintenance spot, shops and a cultural center. It also provides for free access to the public and a remarkable coastal pedestrian road”, he said.

“With such infrastructure project we can deal with competition, we enrich the variety of experiences and we upgrade the quality of services that we offer. Also, we seal the attraction of quality tourism with increased spending per capita”, he noted.

The Minister thanked all those who played an important role in the achievement of the goal and expressed his confidence that “the marina will host the first vessels when Cyprus undertakes the EU rotating presidency in 2012”.

Limassol Marina is a joint venture of &P Avax A.E., Cybargo PLC, Fraggoudi & Stefanou, Ioannou & Paraskevaidi, Athena ATE, Cads Holding Ltd and Limassol CCI via the Limassol Marina Development Company.