Nationalist MP David Agius published a report outlining the cost of the new Ħal Far motorsport hub facilities.

In the report, the estimated cost amounts to €78 million, almost four times the original €20 million Prime Minister Robert Abela had previously stated, according to Times of Malta.

Speaking to Parliament this week, Agius noted that the government commissioned report was never published due to concerns that the amount of public funds used to build the track could breach EU state aid rules.

He also pointed out that the project’s payments were put on hold by the National Development and Social Fund (NDSF) until the issue of state aid had been cleared.

The report, penned by consultancy firm E-Cubed found that the “weak” financial returns the project would generate means the cost isn’t likely to have been supported by the private sector alone, “support from public sources is therefore required to undertake this project. This is typical of the situation in a number of similar installations across the European Union.”

Overlooking the weak financial return, the report says the project “demonstrates robust economic value,” benefiting the economy through the generation of jobs and the reduction of the cost of local motorsport enthusiasts needing to travel abroad to use such facilities, “The net present value of economic benefits thus generated is estimated to amount to €9.7 million.”