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25-06-2021 12:37

Speech by the Μinister of Transport, Communications and Works, Mr Yiannis Karousos, at the signing of the finance contract of the National Roads III project between the Republic of Cyprus and the European Investment Bank

Over the last decade, we have given particular emphasis to develop a well-functioning, safe and efficient transport system to support all sectors of the economy, the citizens and of course the millions of visitors, entrepreneurs and tourists coming to our island. Transport infrastructure and services fulfil our need to connect with other countries, new markets and most importantly between each other. In this respect, we intend to further develop the national core transport infrastructure as a prerequisite to enhance the competitiveness of the Cypriot economy and at the same time face the challenges of climate change.

All inland-domestic movements of people and goods in Cyprus are carried out by the road. The non-feasibility of establishing and operating a railway network, imposes full reliance on road transport, a fact which dictates the construction of a modern, efficient and safe road network. The road network in combination with the airports, ports and Inter-urban public transport stations facilitates multimodality in Cyprus.

Today, we are signing the National Roads III project, the third relevant agreement between the Republic of Cyprus and the European Investment Bank over the last twenty years. The National Roads III provides financial support by the European Investment Bank to crucial land transport infrastructure projects developed by the Ministry of Transport, Communications and Works, a total investment of €276 millions. Today’s signed agreement marks EIB’s largest ever support for transport investment in Cyprus, unlocking in this way new key infrastructure investments. The support will accelarate the use of speed enforcement cameras, decrease transport bottlenecks of key routes, improve the connectivity of isolated areas, enhance the safety of the Cypriot road network and reduce road fatalities in our country.

Five distinctive projects are supported by the National Roads III project:

(i)            the first phase of the Lefkosia South Orbital Motorway, a key road project serving the mobility needs of the bigger urban area of Cyprus, the capital city of Lefkosia and tenths of surrounding municipalities and villages with a capital investment of €81.7 millions,   

(ii)          the first phase of the Lemesos- Saittas Motorway, the bigger road project under construction to the isolated Troodos mountainous area, providing enhanced accessibility and supporting the general governmental policies for social and economic cohesion for tenths of villages in this area, with a capital investment of €33 millions,    

(iii)        the first phase of the Pafos- Polis Chrysochous Motorway, providing enhanced accessibility to the most isolated area of the island but with great development potentials, the Polis Chrysochous and Tilliria area with a capital investment of €95.7 millions,   

(iv)        the first phase of the Vasilikos Energy Centre supporting the overall goals of the Government in the crucial sector of energy supply and production. The project is promoted in the context of the development of the Vasilikos Energy Centre in cooperation with the Ministry of Energy, Commerce and Industry with a capital investment of €24.8 millions.

All the above road projects support the overall land transport strategy of Cyprus in improving accessibility and connectivity and they have a European added value since they are an integral part of the Trans- European Road Network. These projects will maintain and improve the viability and competitiveness of the Cypriot economy and they are fully aligned to the national and pan-European goals on road safety. Furthermore, these projects were designed and currently are under construction taking into account all the climate change challenges and in combination with our overall strategy are aligned with the national and European climate emissions targets.

(v)          Last but not least the fifth project included in the National Roads III is the Speed Enforcement Cameras project with a capital investment of €40.6 millions. Cyprus, through consistent and continuous coordinated actions, has managed to significantly reduce the number of road collisions and consequently the fatalities and injuries. The Speed Enforcement Cameras project is one of the core measures included in the new Road Safety Strategic Plan for the period 2021-2030. Cyprus adopted the EU objective to halve the number of fatalities and serious injuries caused by road collisions by 2030 and the Speed Enforcement Cameras will be a valuable tool towards this effort.

Taking this opportunity I would like to express our gratitude to EIB for realizing another road safety project this year within the context of Safer Transport Platform the “CYPRUS ROAD SAFETY PROGRAMME’’. We look forward to the results of the advisory service by the end of this year in applying the Safe System approach on the national road network.

In close cooperation with the officers of EIB and the Ministry of Finance, the colleagues of the Public Works Department and the Electro-mechanical Services Department completed successfully the screening process and today I have the pleasure to co-sign the National Roads III project.

To this end, I would like to express my heartfelt thanks to Mr Hoyer for the successful completion of this agreement and of course to all the EIB and the Republic of Cyprus officers involved in this effort.

The Ministry of Tranport, Communications and Works has a broad infrastructure investment portfolio serving the overall needs of Cyprus economy and its people. The Ministry will remain a faithful partner of the Europaen Investment Bank exploring new ways of mutual beneficial cooperation within the context of sustainable environmental friendly development.

(AT)