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New projects worth €70 mln in Limassol

28/07/2017 09:14
President of the Republic of Cyprus Nicos Anastasiades has announced a series of new projects for the coastal town of Limassol, the second biggest town in Cyprus and home of the island’s main port, worth 70,2 million euro.

The President, accompanied by members of his Cabinet, presided over a meeting in Limassol on Thursday with the participation of the local authorities of the Limassol district. The aim of the meeting was to review the progress of projects that were announced two years ago and to discuss about new projects.

Announcing the new projects for Limassol, the President said that their cost reaches 70,2 million euro, adding that another 22 million euro will be allocated from the Strategic Sustainable Development program. Projects include road works, public squares, the construction of an Innovation and Business Centre, anti-flood works, construction or extension of schools, upgrade of the archaeological museum of the Limassol district, and many projects for the Cyprus University of Technology, which is based in Limassol.

The President pointed out that the decisions taken to create conditions for growth do not only benefit the whole country, but they particularly benefit Limassol District. He referred to the new status of the Limassol port, and the benefits which arise by the relocation of the headquarters of ten shipping companies, as well as the decision to authorize the operation of a resort casino in the western districts.

Concluding, the President referred once again to the government’s decision to repay the guaranteed loans of the local authorities in Cyprus, of a total cost of 178 million euros.