FINANCIAL SCHEMES

New scheme for upgrading of construction vehicles

Malta Enterprise has announced the launch of a new Scheme aimed at operators in the construction industry to scrap and replace old construction vehicles with new, more environmentally friendly construction vehicles.

An overall budget of €4,000,000 has been allocated to the scheme, in which each operator can benefit from a cash grant up to €200,000.

The scheme will cover up to 40% of the cost of a new vehicle which must have been manufactured after 2016, however, those who opt for a fully electric vehicle will be eligible for a 60% refund, while the purchase of a hybrid machine will cover 50%.

The scheme is also applicable to those operators who opt to purchase second-hand vehicles manufactured after 2016 and which are Euro VI compliant. In this case the scheme will cover 25% of costs.

 

How to access the scheme

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

The scheme will open on 1st December 2020 and run until 31st May 2021, or until the budget allocated is fully utilised.

Speak to our experts to be provided with support on how to access this scheme.