Update on the Temporality of the Concession Agreement for Great Sea Interconnector
December 30, 2024
ADMIE confirmed that the Concession Agreement for the project with Great Sea Interconnector is temporary and will be revised if investors become involved. The Republic of Cyprus is requesting substantial changes to the terms of the agreement, confirming concerns expressed by American advisors. The current agreement is considered economically risky for Cyprus. The role of the American advisors is seen as accurate, demonstrating that the existing agreement does not protect Cyprus's interests.