The recent investment of Lm3.5 million by De La Rue Currency and Security Print Ltd in Bulebel was proof that Malta was still capable of attracting foreign investment, Prime Minister Eddie Fenech Adami said yesterday.
During a visit to the factory, Dr Fenech Adami said it was encouraging to note that despite the fact that De La Rue had various plants around the world, it had opted for an extension in Malta, viewing the country as having the right opportunities for such investment.
Dr Fenech Adami said the Malta Development Corporation approved 185 industrial projects over the past four years.
Some of the machinery from De La Rue's plant in Singapore, which has been closed, was brought to Malta as part of the company's expansion project.
De La Rue also installed a new factory air-conditioning plant and additional printing presses.
An extension is currently under way to house a new state-of-the-art water treatment and recycling plant which will not only save the company money but also substantially reduce the effects on the environment.
As a result of the expansion, 100 workers were employed in the last five months, bringing the total workforce at De La Rue to 465.
The Malta plant is now the largest banknote manufacturing factory in the De La Rue Group producing banknotes for over 100 countries worldwide.
Over 100 workers have been with the company in Malta since it was opened 27 years ago.
Dr Fenech Adami, accompanied by Economic Services Minister Josef Bonnici and Federation of Industry president Joe Zammit Tabona, was shown round the money factory by Ronald Dickenson, general manager of De La Rue.
De La Rue is the world's largest commercial security printer and papermaker, involved in the production of over 150 national currencies and a wide range of security documents such as travellers' cheques and vouchers.
Employing almost 7,000 people across 31 countries, the company is also a leading provider of cash-handling equipment and software solutions to banks and retailers worldwide, helping them to reduce the cost of handling cash.