Pafos Live 22 March 2025
Hermes Airports announces that today, Friday, March 21, 2025, the financing process of the Phase 2 projects has been completed, with the signing of all agreements with the Banks that finance the projects. An agreement has also been signed with the joint venture Bouygues Batiment International SAS and Iacovou Brothers (Constructions) Ltd which has undertaken the construction works of Phase 2, as provided for in the agreement signed with the Government on 23 December 2024.
At the same time, after a process in which the Ministry of Transport, Communications and Works participated, the company that will perform the duties of an independent engineer (Independent Engineer) and monitor the progress of the projects based on the agreed specifications and schedules has been selected.
Upon completion of these procedures, the Company proceeds with the activation of all working groups, which essentially begin the projects, which are expected to be completed in 30 months at Larnaca Airport and in 27 months at Paphos Airport.
Indicatively, at Larnaca Airport, the works concern a total area of approximately 20,000 sq.m. and concern, among other things, the creation of a new wing with departures and arrivals gates which will be connected to the main building, the addition of additional baggage claim belts, a new passport control and security clearance area, the expansion of the commercial area as well as an increase in aircraft parking spaces.
As far as Paphos Airport is concerned, projects will be implemented that increase the capacity of the airport terminal by approximately 30%, significantly improving the passenger experience and the efficiency of controls and procedures. At the same time, the southern parallel taxiway will be expanded, enhancing the operational flexibility of the airport.
With the completion of Phase 2, the capacity of Larnaca Airport will reach 12.4 million passengers per year and Paphos Airport to 5 million passengers, which will allow the unhindered development of air traffic in the coming decades, with all the benefits that this entails for the economy of the country.
Referring to this important milestone for the start of Phase 2, Hermes Airports Chief Executive Officer Eleni Kalogirou noted: "We are today sealing an investment by Hermes Airports which exceeds €170 million. and aims to upgrade the two airports and enhance their capacity, ensuring that they can respond effectively to the needs of the new era, which extends beyond the end of the period of the current Concession Agreement."
