New €7.5 million foreign investment for development of wind turbine parts factory in Hal-Far

Turkish company GIMAS will be developing a new factory in Ħal-Far to produce parts for wind turbines, forming part of a €7.5 million investment.

The announcement was made by Prime Minister Robert Abela on Monday (today), who stated that aside from the new factory, the investment will see the creation of 44 new jobs and the establishment of an academy to train workers in specialised fields.

He remarked that today Malta is assisting in the creation of a new industrial sector, the first of its kind, with an investment in products for clean energy which will create green jobs. The parts manufactured in Malta will be used in turbines that will generate clean energy.

GIMAS was established in 1976 and has since grown to become involved in the manufacturing of products used in machinery, mining, cement, renewable energy, thermal, and nuclear sectors across the world.

“When I think about sustainable development, I don’t just think about the environment, but also about economic opportunities and jobs. I have said many times that climate change, like any other challenge, could be the greatest economic opportunity for our generation,” Prime Minister Abela added.

He affirmed that this investment is taking place at a crucial time as Malta aims to diversify its economy in sectors of innovation, technology, and clean energy.

Dr Abela referred to how Malta’s economy is experiencing unprecedented growth, with it having the “high rate of growth and the lowest rate of unemployment in Europe.” As a result, a transformation is take place so that environmental targets are reached.

“Through this, we are attracting investment that focuses on companies that leave greater value in Malta’s economy,” he continued, before stating that the day of this announcement will be seen as the start of new era for manufacturing in Malta, the green economy era.

On his part, Minister for the Economy, Enterprise, and Strategic Projects Silvio Schembri said that this signifies a step closer for Malta in the goal of having a “record year for foreign investment in the country.” He remarked that such a project, together with others announced in recent years, were possible thanks to synergy between local entities such as Malta Enterprise and INDIS.