Medserv bidding for East Africa operation
Medserv has moved one step closer to its first operation in East Africa after its joint bid with a European partner for a project in Tanzania was shortlisted. Chairman Anthony Diacono noted that, if successful, this would be the company’s first...
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Medserv has moved one step closer to its first operation in East Africa after its joint bid with a European partner for a project in Tanzania was shortlisted.
Chairman Anthony Diacono noted that, if successful, this would be the company’s first operation outside the Mediterranean.
Medserv has also been invited by a major UK-based oil company to tender for the setting up and operation of a logistic supply base in India.
“The investments made in strengthening the management team are starting to bear fruit. These operations outside the Mediterranean are a game-changer and would be a momentous milestone for the company and our brand,” Mr Diacono said.
The company reported that the recovery in its turnover evidenced in the last quarter of 2012 had led to a profit for the first three months of the year. The company had also started work on a second large oil-related maintenance project which is expected to be completed within the next few months.
Preparations being made by oil companies for upcoming projects in the Mediterranean have continued, and both the company’s warehousing facilities in Malta as well as the open areas onthe Malta base are benefiting from increased income from storage and from industrial activities on the company’s quay.
On the other hand, the Misurata base, while operational, is still being hampered by the lack of new business from international oil companies which remain reluctant to return to operational activity in Libya. However, income covering the storage of equipment being kept there is sufficient to meet the running costs of the base, the company noted.