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€4 MILLION SCHEME FOR THE UPGRADE OF CONSTRUCTION VEHICLES

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Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-Copia-di-TURLES-3A scheme that will support people working in the construction industry to upgrade their machinery to more environmentally friendly vehicles was launched on Friday.

Part of the post-coronavirus recovery plan announced on June 8, the scheme will refund part of the cost of purchasing a new vehicle upon proof that an older vehicle that produces more emissions has been scrapped.

Noting that Malta has experienced a record in registrations of property contracts of sale in the past four months, Economy Minister Silvio Schembri said that the government wanted to follow up the predicted increase in activity with an opportunity to expand further into a green economy.

“We have to sustain this industry. It makes sense that this industry adapts to environmentally-friendly technology and more modern systems,” Schembri said during a press conference at the UNEC yard in Burmarrad. 

“The industry is one of the strongest columns of the economy and keeps thousands of people in employment," he added.

A total of €4 million have been allocated to the scheme, with an individual or group being able to make use of up to €200,000.

The scheme will cover up to 40 percent of the cost of a new vehicle, however, those who opt for a fully electric vehicle will be eligible for a 60 percent refund, while the purchase of a hybrid machine will cover 50 percent.

Those who wish to apply for the scheme but purchase a second-hand vehicle may do so as long as the machine was not manufactured before 2016. The scheme would in this case cover 25 percent of such a purchase.

In order to be eligible, participants must submit a report on the vehicle they intend to purchase to Malta Enterprise and provide proof that an older vehicle will be scrapped. 

 

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