Aviation firm SR Technics broke ground on its new centre in Malta, which project will see the investment of €40m as part of the government’s aviation strategy, according to a press statement issued by the Department of Information (DOI).
The agreement between the company and the government includes the construction of a modern multi-bay hangar facility for narrow and wide-body aircraft at the Malta International Airport (MIA). With a size of 30,000 sqm, including workshop space, the new infrastructure will enable SR Technics to increase its capacities to up to six narrow-body aircraft at once for maintenance such as C-checks, modifications and retrofits, the DOI press statement says.
SR Technics expects to hire and train approximately 350 new employees in various positions, such as B1 and B2 engineers, structure mechanics and technicians to join the workforce to service existing and future customers.
“We have developed a long-term growth strategy directed towards the expansion of our global market position through services to our customers across the entire Maintenance, Repair and Overhaul (MRO) value chain. These conditions can only be reached with a supportive government willing to hear the needs of the aviation industry,” said Arthur Magri, General Manager for local operations for SR Technics, at the groundbreaking ceremony today.
Chris Cardona, Minister for the Economy, Investment and Small Businesses, insisted that the government is ambitious and keen to reach higher and wider goals, and sees MROs as a first crucial building to reach to wider opportunities in the aviation industry.
“The global aviation industry is set to continue to experience rapid growth for the near future. Malta too has a role to play in that growth trajectory. This is a vision this Government shares with its local partners and stakeholders,” said Mr Cardona. “This €40 million investment will be instrumental in bolstering Malta’s aviation portfolio,” he added at the event in Ħal Farruġ, where the new centre will be located.
The expansion is another step made in the framework of Malta’s aviation strategy developed by Malta Industrial Parks and Malta Enterprise. The strategy aims to make better use of the area which the government expects could be leveraged to the country’s advantage in expanding the industry further.
“We fully appreciate that the speed at which the industry is growing poses challenges, particularly in regard to human resource needs and safety and congestion. Significant investment will be needed in all areas of aviation to ensure it will be ready to meet long-term demands,” added Mr Cardona.