Page 684 - ePaper

SPECIAL TASK FORCE ON DEVELOPING INVESTMENT PROJECT
PIPELINE IN THE EU- MALTA PROJECT LIST

Current Status:

Technical studies are underway to establish the best location for the
breakwater. Land contour maps and bathymetric maps have been

attained. Once the financing and the commercial aspects are brought
to a level of confidence for the project to deserve further investment

there will be need for :

 Environment Impact Studies
 Traffic impact studies

 Wave and current modelling including a physical model and stress
testing for the extreme once in century storm.

Barriers to execution:

 Technical studies to confirm technical viability and budget costs.

 Regulatory and environmental issues
 Financing

Solutions:

The success of the tourist industry in Malta is almost entirely based on
private sector initiatives and investment. Even the operations inside the

Grand Harbour are all private sector initiatives that have been enabled
by Government creating the right investment environment.

Breakwaters do not generate their own cash flows directly but they
enable in-harbour development in which the private sector would be

ready to invest and exploit commercially.

Malta government believes that given the in-harbour potential the

building of the breakwater could be modelled to involve private sector
co-financing if the following measures are including in the offering

package:

 Government will co-finance the investment by conducting all
technical, environmental and regulatory studies.
 EU – EIB will co-finance with equity and mezzanine finance

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