Finance Minister Tonio Fenech yesterday visited U-Boat, a company based at Portomaso, which has invested more than €7 million in high-tech equipment for underwater filming and research.
The company showed Mr Fenech footage of its newest acquisition: a sleek submarine using the latest technology in the field.
Company chief Anastasia Budykho said the company began operating from Malta in 2003 but began servicing the film industry in 2007.
She said the company would be organising a seminar in February to give more details about its latest projects.
Ms Budykho added that the company was seeking ways of collaborating with Heritage Malta and other local agencies in its efforts to document Malta’s underwater treasures.
Mr Fenech thanked the company for trusting Malta with further expansion and for attracting films to be shot on the islands.
He pointed out that initiatives proposed in the last Budget gave further tax rebates for the film industry.
He said the submarines could also assist in search and rescue operations.
The company currently employs 20 people but plans to expand to 80.