The way towards the recreation of the old Limassol port seems to be difficult due to is involvement in several appeals.

The project was undertaken by Kounnis Bros in November, which had the lowest bid (€17.5 million).

The two companies that failed to undertake the project, Lois Builders and L. Iordanou appealed to the Revisionary Tenders Authority against the decision of the Ports’ Authority.

The Revisionary Tenders Authority rejected Lois Builders’ appeal two days ago because its deed of guarantee was not in line with the terms of the tender.

However, the appeal of the second company is still pending and it is more important since it is based on stronger grounds.

In his statements to StockWatch, Ports’ Authority Manager, Yiannis Kokkinos said that the grounds on which L. Iordanou was based was that Kounnas Bros does not have the required experience for this project since according to the terms, the company should have executed at least two projects of more than €8.5 million.

“As a result, everything will depend on the second decision of the Revisionary Tenders Authority and the stance that the two companies that will lose the tender will keep, tha is, if they appeal to the Supreme Court or block the project”, he said.

The project that must be delivered in two years concerns the recreation of the ports’ land of 6 thousand sq. meters, which will host 18 buildings, parking spaces, a café, a fish market, three fish-houses, a restaurant, a café for the fishermen, offices and shops.