The Elpida is being sunk in the sea some 2 km from the beach in front of the Palm Beach Hotel by the Fisheries Department in cooperation with the Larnaca Tourism Promotion Company.
The project is 75% financed by the EU and 25% by the Republic of Cyprus through the European Marine and Fisheries Fund 2014-2020.
The ceremony will be held at 9.15 am and will be open to the public. Diving will not be permitted on that day in the area for safety reasons while boats must stay away from the delineated area.
Authorities have sunk a number of vessels off the coast to create artificial reefs to promote Cyprus as a diving destination including off Dasoudi and Amathus in Limassol, in the sea off Protaras and off Geroskipou.