Filenews 17 October 2025 - by Vassos Vassiliou
Total revenues in excess of €1 billion. are recorded in the period 2006-2025 from the "Concession Fee" of the airports, which is collected by the government in the context of the agreement with the management company HERMES.
This year alone, receipts are expected to exceed €90 million (an increase of 7% compared to 2024). The above data are included in the budget of the Ministry of Transport, which is submitted at 9.15 am by the Minister himself, Mr. Alexis Vafeadis, before the Parliamentary Committee on Finance.
The ministry's budget is considered a mammoth for the data of Cyprus, if it is taken into account that it reaches €1.61 billion. for the year 2026.
The budget includes a €1.05 billion budget from the ministry itself as well as €556 million from other ministries projects carried out through the Ministry of Transport.
As the minister explains, projects amounting to €539 million are underway by the ministry itself and projects of €273 million by other ministries (a total of €812 million). At the same time, projects worth €272 million are under tender. of the ministry and projects of €275 million. other ministries (total €547 million).
The projects to be signed by the Ministry of Transport (in the next 12 months) amount to €244 million. while projects of other ministries amounting to €8 million will also be signed. (total €252 million).
A fund of €111,956,277 will be allocated for road transport and €97,992,093 for Public Works, while smaller amounts will be allocated to other departments.
Capacity for 17.5 million passengers
Regarding the projects at the airports, Mr. Vafeadis states that:
- With the completion of Phase B, the capacity of Larnaca Airport will reach 12.4 million passengers per year while Paphos Airport will reach 5 million passengers, which will allow the unhindered development of air traffic in the coming decades, with all the benefits that this entails for its economy.
- Larnaca Airport: Projects in a total area of 20,000 sq.m. including a new wing with departure/arrival gates, connected to the main building. Addition of baggage claim belts, a new area for the processing of passport and security checks, expansion of a shopping area and an increase in aircraft parking spaces.
- Paphos Airport: Implementation of projects with an increase of approximately 30% of the airport's terminal capacity, to improve the passenger experience and increase the efficiency of controls and procedures. Parallel extension of the southern parallel taxiway to enhance the operational flexibility of the airport.
Connecting communities with urban centres
Regarding the connection of mountainous and semi-mountainous areas with urban centers, Mr. Vafeadis records the following projects:
- Nicosia Ring Road Phase B3 €35.6 million and Phase C €113.05 million.
- Limassol – Saitta Motorway Construction Phase A2 €83.3m Date. Start: fourth quarter 2026, Expected Expenditure 2026: € 8.3 million, Expected. Continuous. Completion: 3 years
- Design – Construction of section Denia – Akaki – Astromeritis €129.7m.
- Astromeritis – Evrychou Motorway €88.6m Date. Start: 21/10/2022, Estimated Expenditure 2026 €5.000.000, Expected. Date. Completion: Early 2026
- Construction of Nicosia – Palaichori Motorway €77.6m. Date. Start: 13/3/2023, Expected Expenditure 2026 €13.000.000, Expected Date. Completion: 12/9/2026
Other provisions of the budget
Traffic Congestion Management
1. Road Network Completion
2. Improving Road Network Performance
3. Sustainable Urban Mobility Plan (SUMP)
4. Public Passenger Transport (TEN)
Road network completion
1. Nicosia Ring Road Phase B3
Date. Start: 28/7/2025 Expected Expenditure 2026: €35,6m.
Expected. Continuous. Completion: 36 months
2. Nicosia Ring Road Phase C €113.05m.
Date. Start: first quarter 2026 Expected Expenditure 2026: €11.5 mil.
Expected. Continuous. Completion: 40 months
3. Study – Construction of section Denia – Akaki – Astromeritis €129.7m.
Date. Starting: Q1 2026 , Expected Expenditure 2026: €7.7 mil.
Expected. Continuous. Completion: 3.5 years
2. Creation of Nea Ledra Access from the junction of Meg. Alexandrou €2.3m
Public passenger transport
- Contract Budget €87.7 mil. (per year)
- Service Kilometers ≈ 40 million kilometers, continuous increases in kilometers to meet new needs that arise
- "Pame Express" service with an average of 10,000 passengers per month. Extension to the House of Representatives and the Courts.
- Increase of Door to Door Service from 27 (2024) to 29 schools (2025). (1050 students per route and 55 buses)
Upgrading of public passenger transport
– Installation of new shelters and bus stops and upgrading of existing €43.6 million.
Date. Start: 16/10/2023, expected. Date. Completion: 16/10/2028 (with 10 additional years of maintenance)
-Reduction of student fares from €80 to €30 per year
-50% subsidy for fares for seniors with motion card issuance
-Free passenger transportation for low-income pensioners with motion card issuance
-Increased technical control
-Bus lanes and high-density lanes
-App to inform passengers