Following Pafilia’s withdrawal of interest, another bidder followed suit while a court case is currently pending against one of two initial bidders, which Tourism Minister Yiorgos Lakkotrypis said should be wound up in November 2018.

The Poseidon consortium – a joint venture in which Aristo Developers is a major stakeholder – turned to the supreme court of Cyprus after their bid was rejected. The court found that the committee responsible for overseeing the Paphos marina tender process was unlawful, making the previous decision void.

In 2017, the then marina committee saw Poseidon lose out to Pafilia developers after the body found that evidence supplied to secure financing for the multi-million-euro project was ‘not satisfactory’. The project was then handed to Pafilia by a second management committee.

But in December last year, recourse brought by the Poseidon consortium argued that the committee’s move to dismiss its tender and move on to ask Pafilia to commence negotiations was wrongful.

A court decision regarding the Poseidon case is expected on November 12.

Lakkotrypis said documents would be ready for a new competition, and if the court rules in favour of the state, it will proceed with a new competition.

Source: Cyprus Mail