Ablecare Oilfield Services Holdings Limited have been named preferred bidders for the development of the former Marsa Shipbuilding site into a maritime hub.

The announcement was made this morning by Economy Minister Chris Cardona during a news conference on site. He said this was a golden opportunity to attract investment and create jobs as this region, lacked similar facilities.

The group, which has 14 years of experience in this field, specialises in the oil and gas industry. Once developed, the site will be a centre for oil rig maintenance, storage of heavy machinery and equipment as well as logistic support for the oil and gas exploration industry.

The preferred bidder is also pledging to set up an academy to have a skilled workforce in the industry within four to five years.

Dr Cardona said that in recommending the group as preferred bidders, privatisation unit’s evaluation committee also recommended that Ablecare Oilfield Services are not given the full 175,000 square metres.

However, the area they are to be given has yet to be established during talks which will commence shortly, the minister said. He noted that although the concession for the site was for 45 years, it might be revised down.

Meanwhile, no decision has been taken yet on the fate of the site which will not be taken by the preferred bidder.

A total of 28 consortiums had shown interest in the site but only six went on to submit bids.