[WATCH] Mriehel Enterprise Foundation launched

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A number of businesses operating in the Mriehel area, along with the government, have teamed up to set up a foundation that will turn the industrial area into a business park.

The government has pledged to match any investment made by the total of 18 businesses - which include Home Mate, Fino, PwC Malta, Alberta, HSBC and Allied Newspapers – up to €400,000 annually.

The government would also finance any Mepa applications, and traffic and infrastructure fees.

Louis Farrugia, chairman of the Farsons Group, was appointed chairman of the Mriehel Enterprise Foundation. He said the public-private partnership would establish the foundation’s priorities and its long-term vision for the business hub.

The contract was signed at Castille, with a number of government officials present.

Prime minister Joseph Muscat said the government shares the same vision as the private sector.

“We put our money where our mouth is,” he said, calling the project an innovative investment method, with a clear financing model.

Economy and investment minister Chris Cardona said that the PPP was the best example of reciprocal trust between the government and investors. He also thanked the GRTU and the Chamber of Commerce for their support for the foundation.

Energy minister Konrad Mizzi expressed satisfaction that 18 businesses could come together to improve the area and bring it up to scratch as a truly European business trade hub.