Privatisation for Malta Shipyards relaunched

The privatisation unit explained that further to a call for expressions of interest in November 2008, it had issued four parallel requests for proposals, one for each of the four facilities which made up Malta Shipyards Limited. The privatisation processes for the ship repair facility and Manoel Island Yacht Yard facilities were successfully concluded. In contrast, the privatisation processes for the steel fabrication facility and for Malta Super Yacht Services (MSYS) failed to meet the government’s expectations and were cancelled in February this year.

The unit said that, based on MSYS’s past performance as well as on the potential future growth of the sector, the Maltese government firmly believes that the privatisation of the MSYS facilities represents an attractive business opportunity to further develop and operate these facilities for a fixed term. As a result, a competitive tendering process has been launched for the granting of a 30 year concession of the super yacht facilities which are based in Grand Harbour.

The MSYS’s facility comprises two dedicated docks, one of which is installed with a high retractable cover, a number of workshops and site offices. The operation has grown steadily since inception in 2003 and has secured a large number of contracts including extensive refits on some of the largest and best known super yachts.