The state had more revenue when the port of Larnaca was managed by the Ports Authority than when the responsibility was assigned to private investors, according to data cited by the Minister of Transport, Mr. Alexis Vafeadis.
It is noted that the agreement for the management of the port and marina of Larnaca by private individuals was signed on December 4, 2020 and they took over the management on April 1, 2022, to end on May 27, 2024.
The Minister of Transport, Mr. Alexis Vafeadis, in response to a question by the Member of Parliament for Larnaca, Mr. Prodromos Alambritis, lists the financial results of the Port of Larnaca for the period 2017-2025, which are as follows:
In 2017, total revenues amounted to €13,109,420 and expenses to €4,823,131.
In 2018 the revenues were €13,959,961 and the expenses were €4,253,456. In 2019 the revenues were €10,483,478 and the expenses were €4,375,000. In 2020 the revenues were €10,235,444 and the expenses were €4,790,682. In 2021 the revenues were €9,299,834 and the expenses were €4,904,102.
When the transitional period began, between 1/1/2022-31/3/2022 the revenues of the Ports Authority were €3,010,594 and the expenses were €1,260,675. In the period 1/4/2022-31/12/2022, revenues decreased sharply to €1,460,503. with expenses reaching €2,206,489, presenting for the first time a loss that reaches €745,986. In the whole of 2023, the state's revenues from the cooperation with the consortium were €1,872,187 with the state's expenses reaching €2,652,225, recording a loss of €780,039.
In the period 1/1/2024-27/5/2024, revenues were €889,713 with expenses reaching €1,124,598 and damage amounting to €234,884. In the period 28/5/2024-31/12/2024 (after the port returned to the management of the Ports Authority) revenues amounted to €12,812,123 with expenses reaching €8,217,774 recording a profit of €4,594,348.
Finally, in 2025, also under the management of the Ports Authority, revenues skyrocket to €20,457,890 with expenses reaching €13,322,706 recording a profit of €7,135,184.
It is noted that by decision of the previous government, on July 26, 2019, the Republic of Cyprus announced a tender for the concession and unified development of the Port and Marina of Larnaca with the prospect that investments of €1.2 billion would be carried out.
The Port of Larnaca is considered a multi-purpose port that serves all kinds of cargo, such as, for example, animal feed, grain, gypsum soil, salt, gravel, timber, iron, fertilizers, cargoes for the energy sector, cars, petroleum products, as well as cruise ships, providing services related to ship docking, ship loading and unloading, storage of cargoes in temporary storage, customs warehousing and passenger handling services.
