The ministry of energy, commerce, industry and tourism announced on Friday that PMV Maritime Holdings Ltd has been awarded the tender for the lease of a state area (land and sea) for the development of the Paralimni marina.
The tender was launched on June 16, 2015 and PMV Maritime Holdings Ltd submitted its tender on November 27, 2015.
According to the PGI, the Paralimni Marina will be constructed in the area of the Agios Nikolaos fishing retreat in Paralimni and is still a major tourist project for the Famagusta province. It is a project that strengthens the Government’s efforts to promote maritime tourism in Cyprus.
The Paralimni municipal council welcomed the award of the tender and noted that this is a project that we have been awaiting for 15 years. The marina will have a capacity of approximately 300 vessels and will include administration buildings, a hotel and residential and commercial developments. It is an investment worth €110 million and according to the municipality, it is estimated that 600 jobs will be created as a result of the construction.The project is scheduled to start in the summer and it is expected to be completed in three years. The land will be licensed by the Republic of Cyprus for a period of 125 years.
The prospects for economic development of the whole of Famagusta’s free area are on the rise and a great interest for new investments by foreign and local investors is expected.