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18.06.2020 4 NEWS JAMES DEBONO THE Manoel Island project has hit a ma- jor snag after the Environment and Plan- ning Review Tribunal (EPRT) revoked the project's permit and ordered the de- velopers, MIDI, to prepare a new Envi- ronmental Impact Assessment (EIA), a process which can take months. While previous successful appeals had resulted in the application being sent back to the final stages prior to the case officer report and board decision, in this case the blow for the developers is even more devastating as they will have to commence their studies from scratch. e appeal had been presented by en- vironmental NGO Flimkien għal Amb- jent Aħjar (FAA). In October the EPRT had accepted a plea of conflict of inter- est raised by the FAA, over the environ- mental impact assessment for MIDI's Manoel Island masterplan. e crowd funded appeal had been presented by the citizens' group Inħobbu l-Gżira which launched a petition asking parliament to turn Manoel Island into a national herit- age park. Over 8,000 signed the petition offline and online, the highest number of signatures for an environment related parliamentary petition in this legislature. In the appeal, FAA's lawyer Andrew Sci- berras pointed out that architect Edward Said, one of the experts engaged by Paul Gauci to conduct the EIA of MIDI's mas- terplan for Manoel Island, was in fact the son of one of the directors of MIDI plc – Joe Said, the Lombard Bank chairman. e permit for the construction of 610 apartments at Manoel Island was ap- proved on in 2019 by the Planning Au- thority with only one member- NGO representative Annick Bonello- voting against. e approved permit was an amend- ment to the outline permit issued in 1999. It was approved despite challenges to the legality of the project on the basis that it required amendments to the local plan and the PA's duty to protect under- water remains that could possibly date back to the Roman period. e new plans for the island envisage more open public spaces but an addition of 100 apartments to those already ap- proved in 1999. e PA confirmed that 8,000sq.m. of floor space from Manoel Island will be transferred to the Midi de- velopment at Tigné peninsula. e planning directorate insisted that although the outline permit that expired 15 years ago, was kept alive through reference in the local plan approved in 2006. Manoel Island project permit revoked, developers have to redo EIA MALTA Freeport Terminals has been selected as a port of call for the weekly NEMO container ser- vice connecting Malta to seven new ports worldwide stretching from the UK to Australia. Operated jointly by CMA CGM and MSC, the new service offers fast direct connections linking Europe to Australia on its southbound route and Australia with Singapore, Port Kelang, India, Colombo and Europe northbound. Cargo from northern Italy, meanwhile, will reach Malta within a few days. Malta Freeport Terminals CEO Alex Montebello said: "We are de- lighted to add this prestigious ser- vice to our portfolio. Not only does it enhance the Freeport's reputation as a strategic hub in the Mediterra- nean but it will also boost the local business community both on an im- port and export level." Importers can take advantage of an efficient service departing La Spezia on ursday and Gioia Tau- ro on Saturday, arriving in Malta on Monday morning, while exporters will benefit from a 10-day transit service to London Gateway, leaving Malta on Sunday and arriving in Gi- oia Tauro on Monday proceeding to London Gateway after a call in Va- lencia. e new service is operated by 14 ships with a carrying capacity of 9,500 TEU containers. MSC Roma is the first vessel that called at Malta Freeport yesterday on this service. e port rotation follows – Lon- don Gateway, Rotterdam, Hamburg, Antwerp, Le Havre, Fos, La Spezia, Gioia Tauro, Malta Freeport, Pointe des Galets, Port Louis, Sydney, Mel- bourne, Adelaide, Fremantle, Sin- gapore, Colombo, Malta Freeport, Gioia Tauro and Valencia. e New NEMO Service is boost- ing Malta Freeport's global connec- tivity increasing the weekly network connections to over 100 ports. New NEMO container service starts calling at Malta Freeport APS Funds SICAV plc has just launched the APS Diversified Bond Fund Sterling Share Class, this being one of the five share classes offered by APS Diversified Bond Fund. e Sub-Fund forms part of the APS Funds SICAV plc – a UCITS Umbrel- la Collective Investment Scheme which is man- aged by ReAPS Asset Management, the Bank's wholly-owned subsidiary. is Fund endeavours to maximise total return to clients through investment in a portfolio of hand-picked international bonds. e GBP share class requires a minimum investment of £2,000, with a minimum additional investment of £500. Income is paid semi-annually. Josef Portelli, ReAPS Managing Director and Head of Investment Management at APS Bank commented: "We are pleased to announce the launch of the Sterling Share Class as we continue to bolster our investments product range. is new offering will provide Sterling based inves- tors the opportunity to invest in our Diversified Bond Fund." If you are interested in learning more, please visit apsbank.com.mt/sterling-share-class or you can contact the APS Contact Centre on 2122 6644 (Monday to Saturday 8:00 to 20:00, exclud- ing public holidays). APS Diversified Bond Fund Sterling Share Class launched

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