Creek Developments Foundation has been be selected as the Preferred Bidder for the Ta Xbiex Yachting Centre and Harbour Management Ltd as the Preferred Bidder for the Mgarr Gozo Marina, the governemnt said this afternoon.

The Creek Development Foundation is constituted by boat owners holding berths at Ta Xbiex and Msida Marinas. Harbour Management Ltd is the existing operator of Manoel Island Marina and forms part of Melita Marine Group. The Privatisation Unit has advised bidders in these processes of the Government decision and will proceed to open negotiations with the Preferred Bidders.

The privatisation of the marinas had been announced in last year's budget in line with the broad Government policy to continue to entrust operational activities to the private sector while limiting the role of the public sector to policy setting and regulation.

Minister of Finance, the Economy and Investment Tonio Fenech highlighted the important role that can be played by experienced and reputable private operators in the yachting industry. Minister Fenech recalled the fact that the eventual new operators of the marinas will be bound with a number of conditions including the upgrading of marina facilities and infrastructure within 24 months and to develop and manage the entrusted facilities with a view to ensuring their long-term sustainability within the yachting services market.

This will not only improve the economic and employment opportunities in the yachting sector but will also enhance to embellish the respective areas to the benefit of Maltese and tourists alike.