A statement from TNG Global on the Eastside Coastal Protection works follows below:

TNG Global Foundation is delighted to announce that its subsidiary, TNG Realty (Eastside) Limited has reached an agreement to award a contract involving a significant financial commitment, to a joint venture entity comprising marine works contractor, Roverpol and local civil engineering company MacMillan Limited, for the coastal protection works at Eastside. 

The award of the contract will kick-start the extended reclamation and coastal protection works on the Eastside project. This agreement has been reached following a thorough tender process, and year-long negotiation.

Adrian Olivero, CEO of TNG Realty (Eastside) Limited and spokesperson for the TNG Global Foundation, said that he was very excited that work on the project could now start in earnest, and was grateful to all parties in the negotiation for reaching an agreement that will finally see the removal of the rubble mountain and the visible birth of this transformational project for Gibraltar.

Mr Olivero commented: “it has been a while since we announced the launch of the Eastside project, following our agreement with HMGoG. Since then, there has been a considerable amount of hard work done behind the scenes to progress matters, leading to today’s announcement.

I would like to thank the team at TNG Global, our property management consultants, ANS, as well as Hassans, our legal advisors, for their input and support in achieving this important milestone”.