We’ve not given up and have saved the communication channel open
Kition Ocean Holdings (Kition) declares that it’s totally prepared to instantly begin the development of the vital mission in Larnaca, nonetheless, it maintains that the related ministry has not but met with the consortium to debate the quantity of the assure.
An announcement by Kition Ocean Holdings in response to the Authorities's statements states:
Kition Ocean Holdings (Kition) is totally prepared, as soon as the work schedule is clarified, to instantly begin the development of the main mission in Larnaca, by having the required capital, having assembled a reliable and skilled staff, and forming the required procedures. Kition is in a position and able to submit the Operation and Upkeep (O&M) guarantee as initially determined. Nonetheless, we face challenges because the related Ministry has not but agreed to fulfill with us to debate the bond quantity.
On April 15, 2024, Kition met with His Excellency the President of the Republic and different officers. In the course of the assembly, Kition agreed with the Authorities's requests, nonetheless, pressured that the discussions with the Authorities should observe the timelines of the dispute decision means of the Concession Settlement. These predetermined schedules are vital for efficient mission planning and implementation.
Kition left the assembly with the evaluation {that a} mutual settlement was reached with the Authorities and that the discussions will observe the process supplied for within the Concession Settlement. However, we requested for affirmation of what was agreed on the assembly. The Ministry of Transport, Communications and Works refused to verify what was agreed and refused to observe the prescribed process and timelines talked about within the Settlement.
Regardless of our shock and remorse at this strategy, now we have not given up and have saved the channel of communication open during the last week with a unique strategy whereby we will file the bond and enter into a great religion dialogue below a unique fastened schedule. Sadly, the Authorities is unwilling to decide to a selected timetable for good religion discussions.
Kition anticipated that the negotiations can be performed in good religion and inside a structured timetable that’s important to planning the implementation of the mission. We had been shocked to see that the Minister had began the “discussions” within the Media, excluding us from the dialogue. Sadly, now we have repeatedly discovered ourselves studying the Ministry's place for the primary time by way of the media. For instance, no time-frame concerning the bond was communicated as a situation throughout or after the assembly on the Presidential. As a substitute, we discovered from the press concerning the Minister's arbitrary deadlines and threats.
The event of the Larnaca Port and Marina is the biggest improvement mission in Cyprus. Sadly, there appears to be extra concern about creating impressions than truly getting the job executed. If the Ministry had invested the time it spent in media statements to debate with us, we might have already overcome this case. We count on the Authorities to vary its strategy. Kition solely requests what the settlement itself supplies and in accordance with the Regulation.
Kition Ocean Holdings' strategy has all the time been to observe clear and authorized procedures to resolve any disputes, nonetheless, if this isn’t attainable, the matter needs to be determined by the Cypriot courts. We stay optimistic that by way of dialogue the excellent points can be resolved and we’re actively working on this course in order that the mission can transfer ahead.
