Construction company Intrakat, which was contracted to build part of the Paphos-Polis Motorway in Cyprus, is facing significant financial troubles, leaving behind nearly 1 million euros in debts to seven local subcontractors and suppliers.
The debts are tied to payments for work done during the construction project, marred by disputes with the Republic of Cyprus and its Ministry of Transport. These subcontractors are now considering legal action if the company fails to settle its debts by Christmas.
Intrakat, which has been involved in a legal battle with the government over the project’s incomplete work, claims that its financial troubles are due to obstacles caused by the Department of Public Works and the ministry. The company says delays in material deposits, issues with expropriation, and the department’s failure to address crucial issues led to significant project setbacks. Intrakat argues that its debts are directly related to these complications, as it was forced to use its own resources to finance the project and was unable to complete the agreed-upon work.
The department denies any responsibility for Intrakat’s financial troubles and its director, Lefteris Eleftheriou, says Nicosia has paid the company in full for the work done.