Release date: 31 October 2001
Promoter – Financial Intermediary
Department of Civil AviationLocation
Description
Investments in 2001-2006 for expansion and modernisation of air navigation services in Cyprus. The main components comprise new Air Traffic Management facilities to be housed in a new building at Nicosia, an upgrade of the Instrument Landing System at Larnaca airport, an upgrade of radar facilities and new communications facilities.
Objectives
To cope with a continuing growth of air traffic in the Cyprus Flight Information Region (FIR). Economic benefits include improved safety both for airport approach within Cyprus as well as for international, transit flights.
Sector(s)
Proposed EIB finance (Approximate amount)
Approximately EUR 55 million under the Accelerated Finance Initiative.
Total cost (Approximate amount)
Approximately EUR 75 million
Environmental aspects
Environmental impact studies will be carried out as applicable and corrective measures applied as necessary.
Procurement
International procurement procedures will apply.
Status
Signed - 11/10/2002