The Ministry of Transport on Monday announced that it has terminated its agreement with Kition Ocean Holdings Ltd for the development of Larnaca port and marina.
Officials delivered a termination notice to Kition Ocean Holdings this morning. The move follows a reported disagreement between the government and the company over the renewal of a guarantee for Larnaca port, which the Law Office deemed a breach of contract.
To ensure a smooth transition, the Cyprus Port Authority and the state will assume management of the port and marina operations, the Ministry said.
It added that the Ministry of Labour and Social Insurance has also called for a meeting with employee representatives to discuss the implementation of labour laws and safeguard their rights during this transition.
This termination aims to minimise disruption to port operations and marina activities while protecting the rights of workers involved in the project.
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