SmartCity Malta 'on track'

SmartCity Malta had been involved in an intensive one-to-one international marketing campaign over the past nine months, CEO Claudio Grech said yesterday insisting the project was on track.

After months of silence over the $300 million project, Mr Grech quashed rumours that works were at a standstill or that nothing was being done.

"If nothing is said for three months, then it's a disaster but if we say what is happening every day then we are accused of cheap propaganda," he said.

The company started its own marketing campaign last October through intensive one-to-one meetings with international companies, he said.

The construction phase of the project was on track and the company was in a very good financial state. "SmartCity has about €31 million of equity in cash," he insisted.

Two weeks ago, the board of SmartCity said work was proceeding as planned and would pick up speed in the coming months.

The directors said they were confident that SmartCity Malta would be a great success, regardless of all the hurdles that a development of its size had to go through.