**Cyprus Industrial Zones Cost €89 Million, Minister Reports to Parliament**
In a recent statement to the Cypriot Parliament, Minister of Commerce and Industry Michalis Damianos revealed that the government has invested a total of €89 million in state industrial estates to date. This expenditure reflects the government's ongoing commitment to developing industrial zones across the island, which are crucial for supporting economic growth and job creation.
Damianos provided this information in response to a question posed by DISY Famagusta MP Nikos Georgiou. The minister emphasized that the government not only invests in the initial development of these industrial zones but also allocates significant annual funds for their maintenance. This includes essential infrastructure upkeep such as road resurfacing, pavement repairs, and the maintenance of green spaces and common areas within the zones.
Looking ahead, the ministry has outlined plans for further investments totaling €5.775 million between 2026 and 2029. This funding will support two key projects: €2.975 million for improvements to the main road at the Monagrouli industrial zone and €2.8 million for constructing a bridge that will connect the Tremithousa industrial zone with the Paphos industrial area at Mesogi.
In addition to these projects, Damianos noted that the ministry is undertaking modernization efforts, including enhancing security measures at the Strovolos industrial estate by installing fencing.
The establishment of each industrial estate is guided by a regulatory plan developed by the Town Planning and Housing Department. This plan ensures that industrial plots are equipped with a comprehensive road network and essential utilities, including water, electricity, and telecommunications. Eligible companies or individuals can lease these plots once they meet the necessary criteria.
Damianos explained that local planning zones dictate the permissible uses and development of land, with Local Plans or Policy Statements specifically defining industrial and craft zones. The responsibility for developing these areas lies with District Local Government Organisations (DLGOs) and Local Authorities, who collaborate with the Interior Ministry. However, it is the Commerce Ministry that implements government policy to facilitate the growth of these zones through financial support.
As part of this policy, the ministry is responsible for expropriating the land required for the road networks of the zones, as advised by the Town Planning Department. This includes covering the costs associated with constructing access roads, relocating utilities to the boundaries of the zones, and laying out internal road networks to ensure they meet acceptable standards.
Before any infrastructure project can commence, the relevant Local Authority must conduct necessary studies at its own expense. They are also required to submit construction plans and cost estimates for approval. Should a project exceed €2 million in estimated costs, a Project Note must be prepared and submitted to the General Directorate of Development for approval.
The investments in industrial zones are seen as a vital part of Cyprus's strategy to bolster its economy and provide a conducive environment for business development. As the government continues to support these initiatives, the focus remains on enhancing infrastructure and ensuring that the industrial estates can effectively serve the needs of businesses and contribute to the overall economic landscape of Cyprus.