€4 million credit card venture starts taking shape in Gozo

Works have started on a credit card factory at the Xewkija industrial estate, which is due to open in the first quarter of 2009.

The factory is being set up by Italian firm Bryvarc, which is investing €4 million in the venture and employing 58 people over the next three years.

The company specialises in the production and personalisation of plastic cards for high profile clients in Italy, North Africa and the Middle East.

The chairman of Malta Enterprise and Industrial Parks, Alan Camilleri said it was positive that more foreign investors were realising that Gozo was an equally attractive investment location that possessed a number of advantages not found elsewhere. He added that the incentive package offered by Malta Enterprise was a determining factor in managing to secure the investment.

Bryvarc chief executive officer Carlo Faranda said the company had long-term plans in Malta and its investment plan envisaged the rapid expansion of the facility within a short time time-frame, possibly employing up to 100 people within the first five years.

Export orders over the past months increased "tremendously", he said, and the company's strategic merger with Pikappa would enable it to enter into new markets and reach new heights.