Two new road projects will be launched in 2014 despite 15% cuts to the Communications Ministry’s budget, it was announced yesterday.
According to Communications Minister Tasos Mitsopoulos, the ministry’s 2014 budget will be reduced to €277.4 million down from €3326.7m in 2013, while development expenses were reduced to €47.7m down from €68m.
However, despite reductions it was announced that two important road works on the Kiti-Mazotos and Limassol-Saitas roads will go ahead due to soaring numbers of road deaths.
The minister said that a €25m contract has been signed to extend the Limassol marina and a €4m project to reconstruct Zygos Bridge is also underway.
Mitsopoulos said the government’s aim is to establish Cyprus as an air transportation centre, stressing efforts to attract new airlines from foreign markets including China and the Arab world.
He also said that during the winter months there will be 13-14 new destinations offered by four new airlines to and from Cyprus, while efforts are also underway to liberalise flights from Moscow and St Petersburg.
The minister added that the island has attracted significant foreign investments and that more are expected after the banking sector has stabilised. This includes a €700 million investment expected by Arabsat in Cyprus and the signing of contracts for the construction of four commercial ships by a Cypriot company.
Tenders to bring a third mobile telephone company to the island have also been completed, while other tenders to upgrade G4 security systems and to manage terminals at Larnaca and Paphos airports have also been announced.
Tenders are expected to open today for investing in prime real estate located across from the Hilton hotel in Nicosia, which will be leased long-term for the development of hotels and offices as well as a mall.
Mitsopoulos noted that flight control currently shows a four-minute delay per flight, while flyover fees in Cyprus are the lowest in Europe and therefore can be increased provided that the quality of services improves.