This is likely to lead to further significant delays to a project city officials say is long overdue.
Specifically, the Marina Management Committee rejected as outdated and lacking the financial statements handed in by Poseidon.
According to the president of the Paphos Chamber of Commerce and Industry (PCCI), Andreas Demetriades, given that Pafilia fully complies with the terms of the competition, it will take over the construction and operation of the Paphos Marina.
Demetriades said that the consortium Poseidon Grand Marina of Paphos had been called to present the necessary paperwork and proof that it was in a position to invest the necessary funds to realise the Paphos Marina project.
However, “on the basis of the financial statements submitted, it was concluded that the terms and conditions of the competition were not being met,” said Demetriades.
“Our goal is to not waste valuable time”, said the president of the PCCI.
Demetriades expressed his hope that Pafilia will be in a position to satisfy the terms and conditions of the offer, adding that the Paphos Marina has been waiting for development for more than 10 years.
The Paphos Marina, which is set to be constructed in the Potima location of Kissonerga, on the Coral Bay beach road, will have a berthing capacity of 1,000 vessels and include over 42,000 square metres of residential and commercial developments.
Poseidon to fight back
As expected, the Poseidon consortium did not remain with its hands crossed, and issued an announcement to notify the public of its decision to resort to legal measures.
“Regarding the announcements on the matter of construction for the Paphos Marina, the POSEIDON GRAND MARINA OF...