The procedures for the evaluation of each one of the pending projects have reached the final stages, after the new government made clear that they will be revaluated on the basis of the new policy. In his statements to StockWatch, Finance Minister said that the procedures have already started, while the round of contacts with the other Ministers for the exchange of views has already been completed. “We are currently evaluating the final cost of each project”, he said.

At the same time he explained that the priority list will have specific criteria, such as whether the procedures for the completion of a specific project are in mature stages. “The chances to include a project whose obstacles have been impeded and the tenders are already out are bigger than a project that is still in early stages or certain problems have emerged”, the Minister added.

The Ministry will also evaluate the social or environmental repercussions.

Pending projects

A project that sparked off talks in the past few months is the Paphos – Poli Chrysohous highway. Its study dates back to 1980. The House Transport Committee focused on the issue on July 13 and 20 and the sessions were attended by the Transport and the Finance Ministers respectively.

Poli Chrysohous Mayor, Angelos Odysseos told StockWatch that they have requested by the President of the Republic further information on the project but they received no answer yet.

However, the procedures are in the final stages since the decision on the contractor was taken only few days ago. The tender was revaluated by the competent Council on April 22 and after objections the project was assigned to the same contractor. Negotiations are expected to start soon.

According to preliminary estimates, its cost is expected to reach €200 million.

Another project is that of Archangelou Avenue in Nicosia. The contract was given on 27/5/2008 but it has not been signed yet. Constructions will start in autumn and its cost is expected to reach €18.4 million plus VAT.

The third project is the April 1st and Eleftherias Avenue, which connects Paralimni with Derynia. For the reconstruction of the road of 5.3 kilometers, the tenders opened on 27/6/2008 and will expire on 12/9/2008. Its cost is estimated at €11 million.

Projects in initial stages

On the other hand, the procedures for the roundabout near GSP are in early stages since the tender documents are still under preparation. The project will cost €20 – 25 million.

Similarly, the projects of Limassol – Saittas highway and Palechori road are in mature stages.

Projects under construction

Meanwhile, a number of small and big projects are under constructions in all municipalities. The Germasogeia roundabout started in May 2006 and will be finalized in October, while the Ayia Napa roundabout is still in progress too. The cost of the two projects stands at €29,379,039 and €1,156,552 plus VAT respectively.