A study by the Greek Growthfund recommending separate development of Larnaca’s port and marina is heading for a direct clash with Prosperity Group’s €1.2 billion bid to revive joint development of both infrastructures — and Friday’s emergency meeting in Larnaca will force the issue.
If the study is approved, Prosperity’s proposal is automatically sidelined. If it is not, the delays that have already paralysed the project deepen further.
The Transport Minister will present the Growthfund findings at 3pm on Friday in an emergency session of the Larnaca Development Committee, which will then be called to make critical decisions. The study, previously reported by Phileleftheros, evaluates three scenarios for the port and three for the marina, with no use of the port ruled out — commercial, tourist or a combination of both.
Larnaca Mayor and committee president Andreas Vyras said three items are on the agenda: the Growthfund study, the Prosperity revival proposal, and the possible creation of a Working Group — including the Larnaca Municipality and EOAL — to monitor implementation and intervene when schedules slip.
“This discussion is of decisive importance for the development of Larnaca port and marina,” he said. “We are coming with responsibility, documentation and a willingness to cooperate, with the sole criterion being the interest of the city and its citizens. The Prosperity issue must be resolved, the options presented by the Growthfund must be laid out, and concrete timelines must be given.”
After Friday’s presentation, Vyras said, time will be sought to study the findings before the city takes its own decisions.
Delays before a decision has even been made
The urgency is sharpened by how much ground has already been lost. Of the state works announced for the marina — the Nautical Club and landscaping, estimated at €30 million — only the small dredging project has been completed.
The architectural competitions for the Nautical Club and the landscaping have not even been launched, despite original schedules calling for landscaping to be finished by September 2026 and the Nautical Club by December 2027.
For the marina, one scenario envisages expansion through a private investor; the alternative limits development to those state works alone.
Prosperity’s last stand
Prosperity Group, shareholder of former contractor Kition Ocean Holdings, issued a lengthy new statement yesterday making its case for joint development — acutely aware that approval of the Growthfund study would end its revival bid entirely.
The company’s central argument is that separating the port and marina is not just unnecessary but actively harmful. “The geographical proximity of the port and marina, combined with the fact that their operations are inextricably linked and significantly interdependent, substantially reinforces the argument that the two activities must remain under unified management,” Prosperity said.
It pressed the point with a direct challenge: what happens if the port is converted to industrial use or a container terminal? “Our view is clear: the attempt to separate the two operations will bring significant uncertainty and serious delays to the implementation of any project.”
To support its case, Prosperity pointed to Kition’s two-year management record. During that period, it said, turnover increased significantly and the port attracted cruise lines never previously secured — Virgin Cruises, Celestyal and Royal Caribbean — as well as Greece-Cyprus sea routes.
“It is worth recalling that during Kition’s management, the port succeeded in attracting new cruise companies, as well as Greece-Cyprus sea connections — something that had not been achieved before, nor after the termination of the contract,” the company said.
Prosperity said Larnaca needs substantial infrastructure to improve residents’ quality of life — and expressed once again its readiness for dialogue with the state to bring the project back to life.