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Maltese Project Gets Go-Ahead
21 Feb 2008
Malta's House of Representatives has unanimously approved a motion to allow an extension of Malta Freeport through land reclamation. The motion also makes possible an extension of the lease of the facility to French group CMA CGM by 35 years to 65 years.
Land reclamation will enable the expansion of Malta Freeport.
Public Investments Minister Austin Gatt described the Freeport as 'a success story for Malta', and said the decision taken in 2004 to privatise the Freeport had been proved to be correct, with the port having seen substantial investment and strong growth in throughput handled by CMA CGM.
He said that CMA CGM had invested €45m in three years and created 232 new jobs. Throughput rose from 1.2m containers in 2004 to 1.9m last year. Now, CMA CGM has committed itself to invest a further €130m and raise throughput to 3m containers.
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