Publication of Report on Strategic Assessment of the Midi Consortium Proposal

In mid-May the Management Efficiency Unit was instructed by the Prime Minister to carry out a strategic assessment of the MIDI Consortium proposal for the development of Manoel Island and Tigne`. The report of the Management Efficiency Unit was presented to the Prime Minister on June 9th.

The report proposes the need for a professional evaluation to estimate the land to be developed as well as the undertaking of socio-economic assessment. The report's primary recommendation is that, on the basis of these studies, the Government of Malta should re-negotiate the key financial and operational issues with the Consortium before committing itself to signing the emphyteusis deed.

In view of the fact that the key transaction in the Manoel Island/Tigne` development project is public land and the corresponding need for transparency, the Office of the Prime Minister is publishing the report of the strategic assessment. A copy of the report was made available to the MIDI Consortium. The Consortium will be publishing today their initial reactions to the report.

Meanwhile Government has agreed to extend the Letter of Intent to the MIDI consortium for a further three months, to end September 1997.

The report of the Strategic Assessment on the MIDI Consortium can be obtained from the Sales Section of the Department of Information as from tomorrow.