New science park to boost Malta's research capacity

A €20 million life sciences park aimed at consolidating and boosting Malta's research and innovation capacity was launched this morning by Finance and Economic Development Minister Tonio Fenech.

The park is to be built on the site of the Malta Enterprise offices and the former VF and Yorkie factories in San Gwann industrial estate.

The project, 80 per cent of which is to be funded by the EU, is to be completed by 2013, in terms of EU funding conditions.

Mr Fenech underscored the importance of the project to provide state-of-the-art facilities where industry could carry out its research. The park, he said will also include an incubation centre where research can be translated into production. There could also be facilities for pre-clinical trials for the pharmaceutical industry, he said.

The new park will have a total floor space in excess of 13,500 square metres, and firms will be able to rent units of varying sizes according to their needs.

Mr Fenech said the location had been carefully selected in view of its proximity to the University and Mater Dei Hospital, which could collaborate in various research projects.

The project's plans are to be presented to Mepa in the coming months.

He augured that the new science park would also encourage more young people to further their studies in the sciences.

Alan Camilleri, chairman of Malta Enterprise. said a number of companies had already shown an interest in renting space at the park.