MCM, a company which services business jets is to invest €5.5 million on the building of a new hangar in Luqa, enabling it to expand its services to larger aircraft, Finance Minister Tonio Fenech announced this afternoon.

He said during a tour of the company’s existing facilities that 40 new jobs will also be created.

The new 2,400 sqm hangar will be built with assistance from the government.

“Such developments gives us the impetus to encourage more more young people to further their studies, in the knowledge that bright, successful careers will be available to them,” the minister said.

“This is why we remain committed to improving the fundamentals which make Malta an attractive location to do business, while at the same time sustaining our investment in education.”