The Great Lady, a 338-metre behemoth of an oil tanker, yesterday made her presence seen and felt in Grand Harbour when she berthed for repairs at the recently privatised shipyard.

“This is a historical, important moment for me and my company,” Antonio Palumbo, of Palumbo S.p.A. told The Times yesterday as he was asked about this first large-scale contract for the yards under new owners.

“I understand it is one of the biggest ships ever to enter Grand Harbour. My workers are very happy to be working on this great project and are working with great enthusiasm and great professionalism.”

The maintenance works, which Mr Palumbo said have a certain economic significance, are expected to take two weeks.

Palumbo S.p.A. took over the shipyards in June after being chosen as the preferred bidder for the privatisation of what was once Malta’s economic lungs which turned into one of its biggest liabilities.

Palumbo has been involved in ship repair and ship conversion since 1967. It has floating docks in Naples and a 70,000-ton dry dock in Messina.

The privatisation process for Malta Shipyards, not yet complete, has seen the facilities divided into four facilities – the ship repair yard in Cospicua, the former Marsa shipbuilding yard, the super yachts facility in Cospicua and Manoel Island Yacht Yard.

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