Τhe President of the Republic, Nikos Christodoulides, has urged ministers on Wednesday to move quickly, referring to the issue that arose with Larnaca port and the marina project.

Christodoulides was addressing the members of his Cabinet during the start of their weekly meeting noting at the same time that "we had started the preparatory work".

The Ministry of Transport, Communication and Works on Monday notified Kition Ocean Holdings for the termination of the €1.2 billion concession contract on the joint development of the Larnaca marina and port.

Announcing the decision, Transport Minister Alexis Vafeades said the contract had been terminated due to “a fundamental contract violation.”

President Christodoulides said that "we need to move quickly" and that the Cabinet will discuss the issue.

He also referred to other important issues that will concern the meeting of the Council of Ministers, such as a proposal by the Ministry of Interior for the revision of housing plans for the revitalization of mountainous, remote areas and the law regulating the establishment and operation of foreign universities' branches in Cyprus.

Regarding the foreign universities, he said there is strong interest and it is something that will significantly upgrade the quality of higher education in Cyprus. Our goal, he added, "is to become a reference center for university education."