Talks with private consortium Romegas on the rehabilitation of the Dock 1 area have officially failed, Infrastructure Minister Austin Gatt revealed yesterday during the launch of the HSBC Premiere Valletta Boat Show in Cospicua.
Gatt announced that government will instead start work on the rehabilitation of the Dock 1 area in Cospicua early next year.
Plans will be announced in October for the rehabilitation and embellishment of the dock and the building of a car park, which is expected to cost between €10m and €12 million.
Gatt said the government will seek EU funds for the project, after Romegas failed to produced the required bank guarantees, with no agreement reached on the designs.
Gatt also hinted at attempts by Romegas to use its investment for speculation purposes.
In 2007, Gruppo Romegas had finalised its project plans for a Lm22 million (€47m) investment that would have led to the regeneration of the dock and its surroundings. he plans also included the construction of a cultural, commercial, residential and recreational complex and its operation and management.
“The main objective of the redevelopment of Dock 1 and its waterfront is the transformation of the area from a derelict and unused area into quality leisure and recreational space that would attract locals and tourists alike,” Gatt said.
“As government had revealed a few months back, we are considering various options for the Knights Building and British Barracks. Now that we have terminated all negotiations with the Romegas Consortium, Government is studying all options for the regeneration of this area.”
Gatt said that €7.5 million in EU funding had already been secured for landscaping works to be carried out in the areas, with the possibility of further funding for water taxis and transit stations to link the ferries to the main public transport (bus) network.
Works on Boiler Wharf have already commenced and it is envisaged that wthe first cruise liners will berth there shortly.
Government also intends to upgrade the road network in the area and semi-pedestrianise several areas to create a continuous walk from L-Isla to Rinella.
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