€350,000 investment for Mġarr marina
Photo: Max Xuereb
A 200-berth yacht marina in Mġarr, Gozo, will see an investment of €350,000 over the next two years, upgrading the pontoons and the facilities there.
The project is part of a 25-year-agreement signed yesterday between Harbour Management Ltd and Transport Malta for the management of the marina.
The privatisation of the Ta' Xbiex and Msida yacht marinas are at an advanced stage and the preferred bidders have already been chosen.
The winning bidder for the Gozo marina, Harbour Management Ltd, a consortium which operates part of the Ta' Xbiex yacht marina, will make an upfront payment of €513,000 to the government and will be paying €60,000 annually in rent. The rent will increase by 10 per cent every five years.
Finance Minister Tonio Fenech said that if the number of berths increased, the rent would rise accordingly and berthing fees would not increase after the company completed the investment and this in consultation with Transport Malta.
"This is another development in the process for Malta to become a centre for excellence in the yachting sector," Mr Fenech said.
He said Harbour Management Ltd was one of two bidders interested in taking over the facilities in Mġarr. However, the chosen bid was "by far" the best option, partly because it offered an upfront payment and partly because, even though the rent offered by the competing bidder was higher, the final package was better by between €300,000 and €350,000. Infrastructure Minister Austin Gatt said the Mġarr marina hardly had any investment made on it since it was set up in 1990.
He said the management of a yacht marina was a commercial activity the government should not be involved in and pointed out that the Grand Harbour Marina was doing well and so was the other private marina at Portomaso.
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joe falzon
May 27th 2010, 19:37
why not just keep the boats in the Imgarr area and build additions here keeping all there pollutants in one area ---- in other words, why the heck does anyone even think of building another yacht marina at Hondoq, creating another polluted Zewwieqa'? ---- oh, that's right, greed and the fact that might is right!
lesley kreupl
May 27th 2010, 15:36
Why doesn't the government just sell the whole island while it is still in power?
Fort Chambray and Ta'Cenc were also giveaways! I guess the Citadela, Ramla, Hondoq and Dwejra will be next.
How disgusting!
Alison Natalie Keeler
May 27th 2010, 15:14
The only trouble with 'selling your soul' is you can do so only once. That usually means seeking a high price in exchange.
Hasn't this transaction just sold Gozo's greatest asset, it's only access point, for next to nothing.
Joseph Grech
May 27th 2010, 12:39
This marina has been sold for peanuts by administrators who realize they are too inefficient to guarantee an effective running of the marina by government personnel!
''Infrastructure Minister Austin Gatt said the Mġarr marina hardly had any investment made on it since it was set up in 1990'' - this shows how inefficient and irresponsible some of our admistrators are!
Why, they are not even able to administer E.U. Educational Funding effectively...leaving Youths and Entities to suffer the consequences of their blunders and irresponsibility!
Tonio Fenech and others prefer to just wash their hands when projects demanding seriousness come up.
They prefer to sell Malta's jewels to outsiders....and friends of friends.
Revel Barker
May 27th 2010, 12:34
So for 2,500 each, the yacht owners in Mgarr could have owned the marina and reduced their annual rent for moorings to 300 a year...
And nobody thought of that...?