Msida residents and boat owners can expect major disruption over the summer as works on the redevelopment of the yacht marina are scheduled to take place at the height of the peak season.

The old pontoons, currently in a state of disrepair, are expected to be uprooted with heavy machinery which is expected to compound an already problematic parking situation.

Creek Developments plc, which was awarded the site by the government through a privatisation agreement in 2010, has committed itself to completing the works by September.

But several shareholders, the majority of whom are also berth owners, are fuming about the way the project is being managed.

They are particularly annoyed the old pontoons were not replaced in the quieter winter months when many boats were out of the water, allowing the remaining ones to be shifted to other pontoons while work is underway.

Now that better weather is on the way, the pontoons are already becoming crowded.

The late works are the result of a severely delayed tendering process, which was meant to be concluded last August.

According to a spokesman from Creek Developments plc, the shareholders were informed at the foundation’s annual general meeting last month that the pontoon tender has now been awarded.

But shareholders who attended the meeting claimed they were simply told that one bidder had been shortlisted.

“When we asked to know the value of the tender we were told the contract had not yet been finalised,” one concerned shareholder, who preferred to remain unnamed, told The Sunday Times.

Meanwhile, other shareholders have asked for negotiations to be put on hold until the company holds an AGM. This AGM has already been postponed but is expected to be held later this month – outside the 18-month stipulated timeframe allowed by the Malta Financial Services Authority.