Palma.—Were such projects to be approved by the government's Development Coordination department, some 500 million euros of private investment would be sought for the purpose, Antonio Gomez, the Minister for the President's Office said yesterday.

The projects in the pipeline are following in the wake of four which have already been given the green light by the government, namely: Melia Hotels International's Sol Calvia Coast Resort; the Magalluf marina improvement programme; a hotel complex at Es Trenc in Sa Rapita (Campos); and a luxury hotel in Canyamel to be built by Vermell Hotels.

Gomez said that there are another 12 developments being proposed but confirmed that although they would undoubtedly create jobs and boost the local economy, studies need to be completed on how their construction would affect the environment. Some developments may be unacceptable if they breach sustainability benchmarks.

The Minister said that if the four projects which have already been approved are going to - directly or indirectly create 3'870 jobs, those in the pipeline could create a further 3'900.

Gomez said that of the 12 possible developments under review, four which would be financed by both Spanish and foreign private investment are clearly meeting all legal and planning prerequisites.

Gomez said that the projects are spread out over the Balearic Islands in keeping with their proposed status of being in the interests of the region as a whole.

Gomez said that the use of private funding does not mean that investors will have the right to build where they see fit. “If a development is approved, it's because current legislation permits it,” he confirmed.


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