The roof structure was lifted on the new facility being built by aviation maintenance company SR Technics with an investment of €40 million, which project is expected to create 520 jobs.
Spread over 20,000sqm, the new facility includes workshop space and hangars that can accommodate up to one wide-body aircraft and three narrow-body aircraft or alternatively six narrow-body aircrafts all at once, for maintenance such as C-checks, modifications and retrofits.
Malta Enterprise is supporting the investment as part of its ongoing commitment to be a reliable partner for FDIs and the other local businesses, assisting them in adding value and creating growth that would ultimately result in better paid jobs for our employees.
The event also served as an opportunity to announce the enactment of a new Cell Companies Act, with the law being broadened to accommodate cell companies in the shipping and aviation industries.
One of the most important benefits emerging from this structure is that the assets and liabilities of each individual cell are considered as a distinct patrimony and therefore considered as separate from the core cell company and from other individual cells.
The new law shall be yielding diverse opportunities within these sectors amongst investors, charterers and financiers within the industries.