The roof structure of SR Technic’s new aircraft hangar was lifted in place on Thursday, marking another milestone in the company’s €40 million investment. The company is creating 520 new jobs.
Speaking during a visit, Economy Minister Silvio Schembri said this was a “momentous milestone” in the history of Maltese aviation industry.
The company, he said, is expanding its operations through the construction of a brand new modern multi-bay hangar facility, a made in Malta project, which also caters for widebody aircraft.
The impressive project, Schembri said, is another demonstration of the company’s commitment in Malta and of improving its position to service airlines.
Over 20,000 sqm the project includes workshop space and the new infrastructure which will ultimately utilise some 1,200 tons of steel upon completion, will aid SR Technics in increasing its capacities to accommodate up to six-narrow-body aircraft at once, for maintenance such as C-checks, modifications and retrofits.
The Economy Minister also announced the publishing of new cell companies act that will serve to attract more aviation business.
The broadening of the law to accommodate cell companies in the shipping and aviation industries should will provide diverse opportunities within these sectors amongst investors, charterers and financiers within the industries.
The assets and liabilities of each individual Cell will be considered as a distinct patrimony and therefore considered as separate from the core Cell Company and from other individual Cells.
‘We want these structures to be a success story and for Malta to continue building a stronger reputation in these sectors. The regulations are providing the opportunity for companies already registered in the Maltese’s Register of Companies to expand their operations and to segregate their assets and liabilities, where they deem necessary,” Schembri said.
During the press conference it was explained that Malta Industrial Parks will be investing more than €13 million in the upgrading of Taxiway LIMA.