Expressions of interest to be re-opened for a week
43 investors placed their bid already
The call for expressions of interest in the privatisation of Malta Shipyards will be re-opened for a week following a compromise solution between the government and Brussels on the way forward for the yard's sale.
The call had closed on September 15 but there was disagreement over the process between the European Commission and the Finance Ministry, particularly over Malta's insistence to offer the shipyards' exclusively for the maritime industry.
The compromise reached retains that proviso but the offer has been widened to include all maritime sectors and not just ship repair and shipbuilding and will have to be issued again, to close on November 3.
The new call will allow investors who might have been excluded from the first one to make their submission. However, this time the period has been limited to a week so the government can carry on immediately with the issue of a call for tenders.
Finance Minister Tonio Fenech dismissed any idea that the extension of the call for expressions of interest might be taken by investors as a sign that the first call had failed.
"On the contrary, we are already very satisfied with the response as there are 43 prospective investors... Some of them even showed interest in acquiring all the facilities on offer. The response was very good."
Mr Fenech said that once the response of this extension is evaluated, the formal tender could be issued.
After submitting their tenders, the prospective operators will have to submit their business plans to the Commission to convince Brussels that no state aid is involved in the running of the new business.