Part of the Marsa Shipbuilding site – most notably the drydock – may be given to Dutch shipbuilding firm Damen NV, according to sources.
This means the government will then be able to start negotiations with the preferred bidder for the rest of the site, two months later than originally anticipated.
The Dutch company was founded in 1969 and since then has delivered more than 5,000 vessels. It also carries out repairs every year.
It owns 35 yards worldwide in addition to numerous partner yards.
The company’s bid for a yard in Montenegro was recently rejected by that country’s privatisation unit – but it has been snapping up yards at a rapid rate.
The sources said that representatives from Damen have already been to Malta and Economy Minister Chris Cardona had also visited the shipyard.
The agreement would have to dovetail with the tender issued earlier this year by the government for the site.