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Alexandrou Corporate Services client Company is in the Shortlist in Tender for Larnaca Marina

Posted on: 6/21/2017 12:32:31 AM under General News
A client of Alexandrou Group in one of the three companies which have been shortlisted to proceed to the next phase in the tender for the long-delayed development of Larnaca port and marina, the transport ministry has announced.

Our Client is the Amba Ltd & Israel Shipyards Ltd which pass all the criteria, the other two companies are, the Peninsular and Oriental Steam Navigation Company with Cabo Marina S de RL, and the China Communications Construction Company Ltd.
Redeveloping Larnaca marina and port has been in the pipeline for decades, but the project has been thwarted for years by the inability to find an investor with enough money, a situation aggravated by the economic crisis in 2013.
In November 2016 the government invited "expressions of interest”. After the evaluation and bidding process is completed, the winner should be announced by the end of summer.
Eligibility criteria include minimum annual revenues of €30m over the last three years before-tax profitability, debt repayment for two of the last three years, and €50m worth of net assets for the last financial year.
Technical criteria requirements oblige interested parties to prove they had previously participated with at least 45 per cent in the operation of a marina hosting at least 300 boats, evidence of the operation of a container terminal with capacity of at least 350,000 tonnes and proof that they have led the development and commercialisation of a project worth at least €75 million and a construction area of at least 20,000 sqm.
The plan specifies that the total area to be developed measures 510,000 square metres, which includes the Larnaca port and marina as well as an undeveloped surrounding area.