Twelve bids submitted for yacht marinas

Twelve bids have been submitted for three yacht marina facilities being offered by the government as part of its privatisation process.

The call for proposals closed yesterday at Noon.

The Privatisation Unit said it received 12 bids for the Msida Yachting Centre (Msida Gardens Pontoons A to G), Ta Xbiex Yachting Centre Pontoons H to O) and Mgarr (Gozo) Marina .

An Adjudicating Committee will be appointed shortly.

The Successful Proponent shall be required to:

(i) Upgrade the marina facilities and infrastructure within 24 months, including fittings to quay walls, pontoons, moorings, water and electricity installations, access control gates, fire-fighting equipment, chains and shackles;

(ii) Run the marina facilities in compliance with the appropriate local regulatory and international standards, including but not limited to environment protection, security and occupational health and safety;

(iii) Develop and manage the entrusted facilities with a view to ensuring their long-term sustainability within the yachting services market;

(iv) Commit to a berthing fee structure for a period of 5 years

At the end of the 25 year concession period the facilities will revert back to the Malta Maritime Authority.

On the launch of the privatization process, Minister of Finance, the Economy and Investment Tonio Fenech had expressed his belief that in the hands of experienced and reputable private operators, complemented by investment in upgrading the existing facilities and improved berthing management, the marinas' unique location and facilities could be positioned to take advantage of the business opportunities presented by a growing and dynamic yachting industry.