Early this morning, Minister Silvio Schembri attended a ceremony, whereby he initiated the process to raise the roof of the new six-bay hangar facility in place. The new hangar on Park 4 is being built for SR Technics. The minister explained that what we are witnessing today represents a 40 million euro investment. The facility will also be able to cater for wide-body aircraft.
Various local companies were involved in the project, using their expertise to built this mammoth hangar. Minister Schembri focused on the government’s aviation strategy and how this SR Technics facility forms part of an important chain of investments that will see aviation take the centre stage.
Minister Schembri revealed that the government wants to exploit all avenues and has a futuristic overview. He referred to a new legal notice, that now makes it possible to create CELL companies in the shipping and aviation sector. The nimble and agile way in which the governement has moved to attract investment post-COVID-19 slowdown should see a flurry of interest in this sector.
Existing companies, can transfer their business to a CELL company. The government is committed to see that these structures are success stories. He explained that the insolvency of one CELL company will not have any effect on other cells within the structure. Silvio Schembri reitereated his call that the time is now ripe for the Maltese to grasp the opportunities created by the new normality. He concluded by saying that the new SR Technics facility should help Malta to crown itself as the hub of choice for narrowbody maintenance.