Cyprus Property News
Cyprus | Posted:

New Meeting with the Chinese

The Minister of Communications and Works Mr Efthimios Flourentzou and a representative of the Chinese company Far Eastern Phoenix, will meet today to discuss the issue of the investment in the old Larnaca airport.

Having overcome all legal obstacles and other European Union issues, the dialogue between the Ministry and the Chinese now focuses on issues of procedures and more specifically to certain parameters set by Mr Efthimios Flourentzou to the Chinese side.

The exact timetable of both the first and second phases of the project at the old airport, securing funding by Phoenix and the exact cost of the project implementation are key parameters that will be raised.

The Cyprus Investment Promotion Agency (CIPA) however is optimistic that eventually the investment by the Chinese will go on, even later this year. The CIPA have had a key role in the project and were partly responsible for the arrival of Chinese in Cyprus and certainly for the implementation of the project. This will be one of the biggest successes for the Agency which has occasionally been criticized for its effectiveness.