The Ministry of Transport, Communications and Works has signed a Memorandum of Understanding (MoU) with the National Fund of Greece (Growthfund), aimed at fostering the exchange of expertise and data for the development and management of port infrastructure in both countries, in the context of which Growthfund will undertake, on a pilot basis, the study for the development of the port and marina of Larnaca.
According to a press release by the ministry, Growthfund, “with its extensive expertise and its role as the Port Planning Authority” will support the efforts of the Ministry of Transport in the planning and implementation of initiatives for the sustainable development of ports in Cyprus, starting with the port and marina of Larnaca.
Under the newly signed agreement, Growthfund and the Ministry "will work closely in the coming period to upgrade and modernise Cyprus’ port infrastructure”, it said, adding that Growthfund will undertake, on a pilot basis and on behalf of MTCW, the study for the development of the port and marina of Larnaca, submitting proposals for the optimal development of this strategically significant asset.
It notes that Growthfund is responsible for the development of the Greek ports within its portfolio. “In this context, it oversees the preparation of development programmes (Master Plans) and coordinates the licensing procedures required for port infrastructure projects”, it said. Furthermore, it adds, the Fund also supports similar procedures for ports outside its portfolio, contributing to the creation of a cohesive and comprehensive national strategy for the development of the Greek maritime infrastructure.
The agreement was signed by the Ministry's Permanent Secretary, Dr Marina Ioannou Hassapi, on behalf of the Ministry, the CEO of Growthfund, Ioannis Papachristou, and the Deputy CEO of Growthfund, Panagiotis Stampoulidis, in the presence of the Ambassador of the Republic of Cyprus to Greece, Stavros Augustides.
According to the press release Hassapi said that the agreement “marks a significant step toward shaping a modern and comprehensive approach to the development of our country’s port infrastructure.”
Through this collaboration, she added, “we are leveraging the expertise of an organisation with significant expertise, aiming for the optimal planning and implementation of projects with strong development potential.”
“Larnaca, as a port of strategic importance, will become a model of modern, functional, and sustainable port development, bringing substantial benefits to the local community and the economy,” she said.
Stampoulidis said that the signing of this agreement “marks the beginning of a strategic collaboration focused on the exchange of know-how for the optimal development of port infrastructure in both Greece and Cyprus.”
“With a shared vision and coordinated approach, we are committed to working together to advance the Blue Economy in the Southeastern Mediterranean and to promote regional development, delivering multiple benefits to local communities,” he said, adding that, as the Port Planning Authority, Growthfund will continue to play a pivotal role in shaping a sustainable development model for the country’s ports.
“It is also particularly important that 50% of the revenues from port concession contracts is reinvested to upgrade the infrastructure of regional ports—enhancing competitiveness and creating new jobs that benefit the national economy”, he said, according to the press release.
(Photos: PIO)
