Palumbo is preferred bidder for superyacht facility
Palumbo SpA, has been declared the preferred bidder for the privatisation of the Superyacht facility.
Palumbo earlier this year also bought Malta Shipyards, of which the superyacht facility used to form part.
The Finance Ministry said that two bids for the superyacht facility were found to satisfy requirements but Palumbo’s was the best offer at €14.4 million, calculated on the basis of the upfront payment and net present value of rent payable over 30 years.
The minimum upfront payment required by the Request for Proposals was €6 million and a minimum rent of €475,000 per annum increasing by 15% every 5 years.
The offer by Palumbo was of €7.5 million and a rent of €500,000 per annum going up by 15% every 5 years.
The privatisation of the superyacht facility had been relaunched after none of the bids in an initial call for offers was seen as satisfactory.
That process was cancelled amid controversy over an alleged bribery attempt.
2 Comments
Post comment
Please sign in or create your Account to post comments.
Adrian Wirth
Dec 17th 2010, 12:00
@ John Pace - If you and your associates living within the area affected by the sandblasting, whether blown residual grit or excessive noise, why don't you do what other communities outside of these islands do and obtain a court injunction yourselves? Is there something in our law that prevents a citizen or group of citizens from taking legal action to defend what they see as valuable in their community? Form a partnership with your local council to take action. Fund it from a community collection. The days when government could be expected to defend ones perceived 'rights' at taxpayers expense are long gone. If one can't take action as a citizen then something is wrong with the law. Then lobby your European Member of Parliament and make them earn their keep. Good luck.
John Pace
Dec 17th 2010, 10:04
When are the authorities going to take action to stop Palumbo from using grit blasting which they have been prohibited from doing in Italy? We cannot allow a foreign company fouling our laws and endangering our lives when such blasting was stopped when we had the Malta Shipyards. We expect our Local Councils, Senglea, Cospicua, Vittoriosa, Fgura, Paola, Kalkara and others to file a warrant of prohibitory injunction forthwith to stop Palumbo from continuing to use sand blasting and file a court case to prevent any such future use of sand blasting. If it's not good for Italy it is not good for us.