Decision from Add hoc committee expected 15th of February 09

It seems that the Larnaka Port and Marina tender process has yet to face more twists and turns in what appears to be a never ending series of delays.

Since the last update the Review Board concluded that the complaint from the Vouros Investment Group concerning aspects of the financial package had merit. Subsequently they instructed the principle Tender Board to arrange a specialised re-evaluatiuon of the second element of the financial part of the tender, which was effectively the swing 5%, which awarded the Zenon Group as the winning Bidder.

The main elements of the original tender were..

• Concept (incl. design)
• Financial
• Marine
• Legal

It is only the financial aspect now in question and following the recommendations of the Review Board an Add Hoc committee will be set up with the appropriate balanced expert optinion to review the previously mentioned financial portion of the tender.

A decision is expected from the Add Hoc committee, which will be submitted to the Tender Board on the 15th of February 09.