Details emerge on proposed government contract with Sadeed Group for new university
Details emerged today of the government's agreement with the Sadeen Group of Jordan about its investment in the new American University of Malta, which will be built on campuses alongside Dock 1 on Cospicua and in Zonqor, Marsascala.
A copy of the contract was handed to the members of the parliamentary audit committee at 8pm yesterday and debate about it started this afternoon, with the Opposition protesting that it was given too little time to study it.
The investors are being bound to make an investment €104 million.
The project is to create 300 direct new jobs and the university will have a capacity for 400 students.
The sites being transferred by the government must be used for educational purposes only (the Marsascala site will include living quarters for students).
Land is being transferred on temporary emphyteusis for 99 years. Ground rent starts at €40,000 in the first year and increases gradually to more than €1 million by the 31st year. The project has to remain a single entity throughout the period. If Sadeen fail to obtain and retain accreditation as a university, the deed will be nullified.
Sadeen will have to start the MEPA permit applications process 45 days...