A ferry tunnel linking Sliema to Cottonera will be completed by the summer of 2017, AX Holdings Chairman Anglu Xuereb said today.

Addressing a press conference after AX Holdings was recognised as the preferred bidder for the €10 million project, Mr Xuereb said he is optimistic the project will be completed by mid-2017 and operational by 2018, when Valletta will be the European capital of culture.

He said the project will be concluded within 18 months from the conclusion of the contract with the government, and expressed his hope that the permit process from the planning authority will not take long in order for the project to be up and running for Valletta 2018.

The ferry ride between Sliema and Cottonera will take 20 minutes.

Michael Warrington, AX Holdings Finance Director, said the tunnel will start from near Marsamxett near the water polo pitch, running all the way underneath Valletta and exiting near Lascaris Wharf.

The Superintendent of Cultural Heritage has already been consulted and no known underground structures will be affected by the route, Mr Warrington said.

The tunnel will be seven metres wide and rise five metres above the mean sea level, with a depth of two‒and-half metres below sea level.

Three specially designed river boats will be used for the service. 

Only one boat will be able to use the tunnel at any one time.

Mr Warrington said the ferry service will generate economic activity at the landing points, and help commuters travelling to the American University of Malta in Cospicua.

He expressed his confidence that car parks will be developed over time to complement the service.

Transport Minister Joe Mizzi said the project will not solve the current traffic problem but will certainly help alleviate it.

He called it an “important day” as the government is putting its plans to create innovative transport solutions in motion.

Energy and Health Minister Konrad Mizzi, who is also responsible for public private partnerships (PPPs), said the country is currenty experiencing strong economic growth which needs to be sustained by improving Malta’s infrastructure.

He said the tunnel is an all-weather solution that will also be a nice experience for its users.

Only five minutes of the commute will take place inside of the tunnel. 

A long-term concession has been granted to AX Holdings, which aims to ferry a million-and-a-half passengers a year after the third year, Dr Mizzi said..