Minister of Transport, Communications and Works Marios Demetriades has told Cyprus News Agency that he will change the procedure for privatization of Larnaca port after the parliament`s decision to delete the relevant funds from the state budget for 2017.
The Minister says that while he remains focused on the goal of completing the project of the port and marina of Larnaca in 2017, the removal of the relevant funds from the state budget obliges him to revise the process with any consequences that might incur.
The majority of the House cut last Wednesday the funds for consulting and expert services for many projects, including the privatization of Larnaca`s port and marina. The process of finding a strategic investor for the development of the port and marina of Larnaca has been launched on 23 November, but according to the Minister the whole procedure will be now changed after the parliament`s decision.
The Minister of Transport expects, as he said, the House to clarify how they could proceed with the project, which as he said is a demand by the people of Larnaca.
Demetriades: Privatisation Procedure for Larnaca Port to Change Due to Budget Cuts
