Only two bids in super yacht facility privatisation process

Although seven prospective bidders had expressed interest in the privatisation process of the Malta Super Yacht Facilities only two offers were submitted, the Finance Ministry said.

The sealed bids would now be opened and the one with the best financial offer would be declared preferred bidder, the ministry said.

The Privatisation Unit had issued a call for expressions of interest in November 2008 along with four parallel requests for proposals, one for each of the four facilities at Malta Shipyards Ltd.

The ship repair facility and Manoel Island Yacht Yard were sold but the privatisation of the steel fabrication and super yachts facilities were cancelled in February because “the bids were seen as being too low for the profitable facility”.

A fresh call was made in July.