The government is seriously considering a monorail system based on a 79km-long, two-line track that would criss-cross the island and integrate part of the pre-1931 railway infrastructure.

The proposal is one of five major projects submitted to Brussels as part of an initiative to boost the EU’s economy.

The project is still far from being realised – studies on its feasibility, technical specifications and socioeconomic impact are still in their initial stages – but Transport Malta indicated to the EU it was already being considered and the necessary studies should be ready by mid-next year. It is not yet known who is conducting the studies.

The introduction of some metro or monorail system on the island has long been mentioned as one of the solutions to the increasing traffic problems.

More than two decades ago, construction magnate Angelo Xuereb even presented solid proposals for such a project.

However, this kind of revolutionary project has always been shot down by various administrations, as studies indicated Malta did not have the necessary critical mass in terms of population to make it economically viable.

However, there now seems to be some kind of rethinking, even though government sources told Times of Malta this might still end up being “an unrealistic endeavour”.

“We are just thinking aloud at this stage but we are not ruling anything out,” a senior government source said.

In the EU document, unveiled by the European Commission on Tuesday, Malta’s monorail proposal includes the construction of two lines intersecting with each other: north-south and east-west.

The monorail lines would intersect at a key traffic junction and feed into various stops to other modes of transport above ground, mainly buses.

According to the proposal, some of the infrastructure would need to be underground, similar to a metro system.

Interestingly, it proposes integrating the pre-1931 railway infrastructure, which includes various underground tunnels and train stations used by Malta Railways Ltd between 1883 and 1931.

The EU document says that executing the project – expected to start around early 2017 “if financing is in place” – will be planned in four phases, each taking two years, with the first to be completed by 2018. This means it will take until 2024 for Malta to have a complete new means of transport.

Financing the project is considered to be the major headache. Although the proposal, which still has to be beefed up, mentions the need to secure €1.5 billion for the whole project, it clearly says this will not be possible from national funds.

The proposal says the monorail system could generate its own revenue if properly executed but the government is suggesting tapping other sources, including a public-private partnership, EU and European Investment funds and a mix of traditional financing sources, including long-term loans from banks and bonds raised on Malta’s capital markets, “which are very liquid”.

Apart from seeking a solution to the prevailing traffic crisis, which leaves commuters seething on a daily basis, the government is also ‘selling’ the project to the EU as one having economic benefits.

According to the proposal, the government believes implementing the project successfully would unblock economic potential, as travellers would add at least 30 minutes per day to productive work or social quality time, which is now being lost in traffic gridlock.

“It will stimulate the much-desired increase in female labour participation as parents can reliably plan their children’s daily commute to school or kindergarten rather than having to drive them back and forth individually,” the government notes.

Malta also proposed other major projects for the EU’s consideration.

These include the construction of a breakwater at Marsamxett harbour, a rural airfield in Gozo, developing the infrastructure for the procurement, handling, storage and distribution of medicines under public health initiatives and social housing and community centres for disabled adults.

Malta’s projects are among 2,000 submitted by the 28 EU member states.

Brussels has already made it clear “there are no automatic financing commitments by the EU or the European Investment Bank for projects identified by the task force”.

“At this stage, we wanted to have a wish list from all member states. We wanted to know the investment potential of all member states,” a spokesman said.

The EU report will now be discussed by heads of State and government at a summit later this month.