Release date: 15 September 2010
Promoter – Financial Intermediary
Ministry of Communication and Works
Public Works Department
Location
Description
Investment loan with three components:
(i) Upgrading of about 14 km of A1 motorway from Nicosia to Ayia Varvara and associated access roads;
(ii) Upgrading and new construction of about 5 km of highway to improve access to Limassol port;
(iii) Implementation of a countrywide speed camera program
Objectives
The project is expected to improve traffic conditions in several sections of the Cypriot road network. It would have significant economic benefits such as savings in operating costs and in travel time, as well as improved road safety.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 100 million.
Total cost (Approximate amount)
EUR 200 million.
Environmental aspects
The applicability of the SEA Directive is to be assessed during appraisal. The two road schemes to be included in the project all fall under Annex II of the EIA Directive 85/337/EEC as amended and therefore are to be screened by the Competent Authority to determine whether an EIA is necessary or not. The screening and, where applicable, subsequent EIA procedure, including as necessary issues related to the Habitats and Birds Directives, are to be assessed during appraisal. The road safety component of the project does not fall under either Annex I or II of the EIA Directive 85/337/EEC.
Procurement
The Promoter is a contracting authority governed by public law and is subject to provisions of Directive 2004/18/EC. The Bank will examine the procurement arrangements during appraisal.
Status
Signed - 18/03/2011
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).