Contracts for Development of Paralimni Marina Signed

He said the contracts signed with PMV Maritime Holdings Ltd provide for a long-term lease and license to use state-owned land and sea in the area of Ayios Nikolaos fishing shelter in Protaras.

With an estimated value of €110 million the new marina is expected to operate by the middle of 2021, with a capacity of approximately 300 vessels, the Cyprus News Agency reports.

Lakkotrypis added that apart from the necessary works related to the operation of the marina, the private investor has the right to construct housing and commercial developments aiming to safeguard the project’s viability and attractiveness.

The Minister noted that with the signing of the contracts, a major step was made today as regards the development of maritime tourism in Cyprus. Furthermore, he said that the new marina will be the second marina in the Famagusta district.

On his part, Mayor of Paralimni Theodoros Pyrillis said the €110-million project will have “a huge positive systemic impact on our economy.”

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