Meanwhile, there are doubts whether the winning consortium will be able to submit the economic guarantees in time, giving rise to concern on the part of the runner-up consortium that the deadline will be extended against the regulations.

A source close to the matter in the Paphos district expressed certainty that in the next couple of days, and before the deadline, the winning consortium will be able to submit all the documents requested by the authorities so that the matter is closed and development can move to the stage of construction.

The runner-up consortium requested an official update from the Ministry of Commerce regarding the developments on the Paphos marina, as it is concerned that the regulations of the competition will be violated and the November 10 deadline extended.

In the letter to the Ministry it is stressed that the runner-up consortium is particularly concerned by media reports that various parties are attempting to influence the flow of the competition, by extending the deadline.

Both the members of the winning consortium and the Coordinating Committee of Parties and Organisations in Paphos, however, stress that they consider the responsibility for the requested extension to burden the banks which are not ready to present the economic guarantees, rather than the consortium itself, which has achieved a deal for the guarantees.

When finally built, the marina will have a capacity of 1,000 berths for boats and will be located in Potima Bay in Kissonerga in an area 155,000 square metres large. The project will take approximately three years to be completed.

Source: InCyprus