‘Big three’ dominate Cyprus’ public works

A caller study by Cyprus’ Auditor General has confirmed what galore successful the operation world person been whispering for years: that a fistful of “national contractors” are calling the shots when it comes to Cyprus’ biggest nationalist works projects. According to the audit, three companies – Cyfield, Iacovou and Cybarco – person cornered a staggering 40.8% of the total marketplace value of nationalist operation contracts, adjacent though they took connected conscionable 13% of the total fig of projects.

That concentration, the Auditor General warns, points to a shrinking excavation of large players dominating state contracts. Cyfield, successful particular, topped the marketplace stock database for 4 straight years (2019-2023), a streak the study says could bespeak a “dominant position” forming successful the sector.

“A deficiency of sufficient options limits the state’s negotiating power,” the Auditor General noted, adding that authorities whitethorn extremity up “forced to repeatedly work with contractors who bash not ever execute adequately.”

The study besides raises reddish flags implicit whether these companies person the capableness to grip so galore large-scale projects astatine once. Findings suggest that the bigger the task is, the longer the wait.