MIDI plc, the company entrusted with the development of Manoel Island, has issued a statement saying that it is ‘committed to find a solution for Manoel Island to revert to Government’.

This unforeseen development comes despite MIDI having reaffirmed its intention last week to proceed with the original Manoel Island project, stating that it is “not in default of its obligations under the deed of emphyteusis dated 15 June 2000.”

In its latest statement, MIDI appears to have eased its position amid growing public pressure, including a petition signed by over 29,000 people calling for Manoel Island to be turned into a public national park.

In its statement, MIDI confirmed that it is “prepared to engage in constructive discussions with the Government,” while safeguarding the interests of bondholders, shareholders, and the public.

“MIDI recognises that Government has underscored its desire to convert Manoel Island into a national park,” the statement read.

It continued: “In light of this shift in Government’s policy direction, the company is open to reaching an agreement that reflects current national priorities which are clearly different from those prevailing when the concession was granted.”

MIDI affirmed its commitment to acting in good faith to find a solution that supports the Government’s objective of Manoel Island reverting to state control.

The company also pledged to keep the market informed of any significant developments.

On Sunday, Prime Minister Robert Abela hinted that the Government is prepared to take legal action against MIDI in its effort to reclaim Manoel Island and convert it into a national park.

Additionally, several MIDI plc bondholders were scheduled to meet with Prime Minister Abela last Friday.