AX Holdings has proposed an investment of €10 million in alternative transport links within the Grand Harbour and Marsamxett areas in response to a call by Projects Malta.

The project proposes a ferry link from Sliema to Cottonera, with a stop in Valletta, close to the Barrakka lift. The innovative aspect is a tunnel beneath Valletta, through which the ferry would pass on its way to Cottonera and vice-versa.

It was the only proposal the government received by yesterday’s deadline, which had been extended from October 30.

Speaking to the Times of Malta, company owner Anġlu Xuereb said he had been raising the need for an alternative transport system in the area to ease traffic congestion since the late 1980s.

AX Holdings is the sole investor in the project, which would be implemented in collaboration with Captain Morgan cruises. The submission is still to be evaluated, following which negotiations will start if the project meets the criteria set in the Request for Proposals issued last August.

The criteria stated that any project proposed had to be efficient and effective, while excluding the use of cars. The aim is to reduce traffic congestion and waiting times for the public.