PM takes over White Rocks project as investors warn their time is ‘running out’

MaltaToday is informed that Gonzi has taken the project under his direct supervision, after the British consortium of investors have made it clear to government that their time was “running out” after a year waiting for government to finalise the deal.

Informed sources explained that following parliamentary secretary Clyde Puli’s omission to mention the White Rocks project during a recent speech whereby he spelt out government’s vision for sports, the British investors have sent the message that they cannot wait any longer.

Two weeks ago, Don Brister, a director and shareholder within the White Rocks Holding Company, told MaltaToday: “we honestly don’t know what is holding government on this, we are very keen to go ahead with the project, but something internal within government seems to be stalling all progress.”

Brister – who is often engaged in talks with government over the project – could not specify the “internal problem”, but said that government had already been presented with the proof of financing one year ago, and that a lot of work had been done in the UK with regards to designs, to the extent that “the consortium is ready to go to MEPA.”

Asked to react to the story before he addressed the consuls’ meeting at the Marsa Sports Club last week, Puli insisted on a “no comment,” adding only that the “reply is standard... I won’t comment at this delicate stage of the negotiations.”

A week ago, MaltaToday reported that the British investors were ‘pushed’ by government to develop the former White Rocks complex, rather than negotiate privately to develop the same idea on private land in Marsa.

Prior to the announcement of the White Rocks project last year, the British investors were about to engage in talks with land-owners in Marsa, but senior government officials had eventually persuaded them to take their project to the White Rocks complex.

Sources close to the consortium have expressed “regret” that negotiations with government are stalled and no progress has been made over the White Rocks project.

“If we had negotiated with the private land-owners in Marsa we would have definitely moved on and got a deal going,” a senior source within the consortium said.

MaltaToday is informed that the consortium had originally come to Malta in 2008 and had looked at Manoel Island, but the space available for development outside the Midi project was small and had to be abandoned.

The consortium expressed disappointment at the fact that no mention of the White Rocks project was made by the parliamentary secretary for sports Clyde Puli, in a speech he delivered to the overseas consuls of Malta.

Puli strangely steered clear of mentioning the €200 million sports and leisure complex in Pembroke, and spoke of various initiatives undertaken by the government to promote sports and support the 350 registered associations and clubs.

Puli spoke about government’s intention to expand on a policy of public, private partnerships to strengthen the sports sector, and expressed satisfaction that The Malta Environment and Planning Authority has recently approved the changes to the local plan for the Marsa area, which envisages the development of an equestrian centre, rugby, baseball, football, athletics and archery grounds.