**Investment of €415m Unveiled for Larnaca Port and Marina**
A significant redevelopment initiative for Larnaca Port and Marina was announced on Friday, with a total investment of €415 million planned over the next two decades. The Larnaca Ports Authority presented a comprehensive roadmap that outlines a phased approach to the redevelopment, which is expected to be completed by 2045.
The ambitious project is divided into three main subprojects: the redevelopment of marina land, improvements to marina infrastructure, and the modernization of the port itself. The master plan for these developments is anticipated to be finalized by 2029, setting the stage for a series of enhancements aimed at revitalizing the area.
The port redevelopment is the largest component of the initiative, with an estimated investment of approximately €205 million earmarked for various upgrades and improvements through to 2045. The initial phase will focus on essential maintenance and the acquisition of new operational equipment. Subsequent phases, scheduled between 2036 and 2045, will introduce new quays, an expanded breakwater, additional berths, and a new port basin to accommodate increased maritime activity.
In addition to the port improvements, the redevelopment of marina land and adjacent areas will receive around €190 million from 2027 to 2036. Early works in this phase will include landscaping and the relocation of existing boatyards from the marina to the northern section of the port. The plan also includes the creation of public open spaces, green areas, and parking facilities, which will precede any commercial development in the area.
The roadmap outlines a vision for the marina that includes the construction of hotels, restaurants, office spaces, recreational facilities, and a conference center. Most of these commercial projects are expected to be financed by private investors, allowing for a collaborative approach to the development of the area.
The ports authority will oversee the infrastructure, maintenance, and strategic management of the project, while the commercial and tourism developments will largely rely on private investment within the framework of the overall planning strategy. This approach follows the government's recent decision to separate the redevelopment of the port and marina into parallel projects, a move made after the termination of the concession agreement with Kition Ocean Holdings in 2024.
Transport Minister Alexis Vafeades has expressed support for this revised strategy, emphasizing that developing the port and marina separately will facilitate progress without unnecessary delays, while still ensuring that both projects remain coordinated under a unified strategy.
The overarching goal of the redevelopment plan is to enhance Larnaca’s role in the shipping industry while improving public access to the waterfront, creating a seamless connection between the marina and the port. This initiative is expected to not only boost local economic activity but also improve the overall experience for residents and visitors alike.
As the project unfolds over the coming years, stakeholders will be closely monitoring its progress, with the aim of transforming Larnaca into a key maritime hub in the region. The phased investment approach is designed to ensure that each stage of the development is executed efficiently, paving the way for a revitalized and modernized port and marina by the mid-2040s.