The Mediterranean Maritime Hub Malta (MMH) has invested more than €20 million to turn Valletta into a bustling hub for the Maritime and Oil & Gas sectors.
The first investment of €8 million went towards the preparation of the site, starting with the dredging of the seabed to a depth of 10.5 meters.
The dredging successfully removed pollutants from the main harbour and allowed the port to accommodate larger vessels within the Oil & Gas field – including supply and construction vessels and superyachts.
“Today, thanks to the collaborative work with Jan De Nul Group, Malta’s harbour can accommodate larger vessels within the Oil & Gas field – including supply and construction vessels. This investment sets us well on the way to achieving our ambition of turning the port of Valletta into a bustling Maritime and Oil & Gas Hub,” MMH said in the release.
The 300- and 700-ton travel lifts are part of the second investment of €5 million that required upgrading works on quayside infrastructure. This 5-month long project involved creating two 45m long piers specifically designed to cater for two basins of 9m and 14m width necessary for accommodating wider vessels.
The improvements of the facilities – including dredging – required for the sector to thrive were a culmination of years of investments, experience, and collaborative partnerships with MMH, the company reported.
These collaborative synergies made it possible to develop the next phase of the project successfully, with more than €8 million invested in the Hub. This project included 120,000 sq. meters of paving and servicing works upgrades, the upgrading of sheds and equipment; new workshops, blasting and painting booths as well as new offices and facilities.
All these projects have laid the foundation for Malta to continue to serve as a hub for the Maritime and Oil & Gas industries.