The consortium in charge of operating and managing the Larnaca and Paphos airports, HERMES Airports Ltd, has confirmed reports that it is negotiating a sizeable investment involving the construction of exhibition showrooms and a logistical services centre at the old Larnaca airport with a large chinese company which was not named as the discussions are private and not finalized yet. The investment under discussion will be one of the largest investments ever made in Cyprus rumored to be worth about €1 billion. Hermes Airports have already signed a memorandum of understanding with the Chinese company.

The Chinese company’s proposal involves the creation of a large commercial showroom for Chinese products and also a logistical services centre.

“The logistical centre will be based at the old Larnaca airport, and will constitute the bridge linking China to Europe, Africa to the Middle East,” Mr Aspris who is Hermes spokesman said.

“In effect, Cyprus will become a gateway for Chinese products to Europe, the Middle East and Africa.” he added.

The proposed project would create hundreds of jobs, hopefully increase the number of visitors to the island, and also attract managerial staff from Chinese companies whose products will be on display at the showroom.

Larnaca Mayor Andreas Louroudjiatis welcomed the news, saying he hoped the investment went ahead to help boost the town’s growth.

“We want to send out the message that it is time for Larnaca to achieve the growth that it deserves.” he added.

Should the project go ahead it is estimated that the nearby villages of Tersefanou, Kiti and Meneou will experience a substantial economic injection.

According to Sigmalive, a Cyprus TV channel, the proposed airport extension development will be as seen at the video below