€173 million to be invested by the private sector in four projects

More than €173 million are set to be invested by the private sector in projects that are expected to generate 441 jobs over the next four years.

Details about the projects were announced by Economy Minister Silvio Schembri, who said that the projects will take place on land which has already been developed or disturbed.

In comments to the media, Schembri said that “the economic performance of our country is going at a good pace and that the forecasts for the future are good. This is not only said by the international credit agencies, but by the private sector which is investing millions in various projects in our country.”

One of the four projects in question is a €7 million investment by Fortel Services Ltd for the improvement of the existing lido at Tigne. The place where the Fortina Lido is located was given with a land title to Fortel Services Ltd in 1991 on land of approximately 1,400 square metres.

A second project involves a significant financial investment of more than €103.8 million at the Freeport, of which €55 million is related to infrastructural works, and €48 million is linked to the purchase of new equipment and related infrastructure.

The third project is a €50 million regeneration of the abandoned site of the former Edible Oil plant and its surroundings in the area known as liMgieret, limits of Marsa/ Luqa.

The fourth project is a €12 million investment by the Central Business Centre Ltd, along with an international company, for a supermarket in Mdina Road and a wood factory in Triq H’Attard in

Zebbug.