More than 60% of factories operating at Mosta Technopark three years ago have closed down

According to a reply given in Parliament by then Investments’ Minister Austin Gatt, in 2007 there were 24 factories operating out of the Mosta Technopark.

Now at the Mosta Technopark there are only 11 factories operating, Kullhadd revealed, hence 60% of the factories that operated from there three years ago have closed their doors.

During the last year alone, 4 factories that used to operate from the Mosta Technopark have shut down. Quoting anonymous sources, Kullħadd were forecasting “a difficult and tough future for one of those 9 factories that continued operating from the Mosta Technopark”.

The Mosta Technopark was opened in 1992 by a Nationalist Government with the aim of creating a cluster of companies which specialised in high quality and the processing of technological products.

This industrial estate is managed by Malta Industrial Parks Limited CEO Alan Camilleri with a salary of €70,000 and other similar perks, Kulħadd reported.

Before the 2008 General Elections, the PN had promised in its electoral manifesto a €30 million investment in the Mosta Technopark for the development of eleven thousand square metres for new factories there.

The paper explained how the PN had also promised that this new investment would be ready by the end of 2008.

Kullħadd remarked that ‘not only this did not materialise, but little after a new Nationalist Government was elected to power, the internal haemorrhage of factories shutting their doors at the Mosta Techopark continued to accelerate”.

MEA Director-General Joseph Farrugia told Kullħadd that the number of factories that had closed down at Mosta Techopark was “worrying”.

“It is a worrying signal that you see all that spare capacity not being used,” Farrugia was quoted as saying by Kullħadd when asked for his reaction for this news.