Bidders for the Malta Shipyards Ltd's super yacht facility were asked to submit fresh proposals yesterday because their first offers were considered unsatisfactory.

The Privatisation Unit informed the government that, after considering the submitted proposals and following some clarification meetings, none were satisfactory.

The government said all bidders were informed of the decision yesterday.

The process for the privatisation of the shipyards started in the middle of last year and included an early retirement scheme, taken up by almost all its workers. It has seen the facilities of Malta Shipyards divided into four units: the ship repair yard in Cospicua, the former Marsa shipbuilding yard, the super yachts facility in Cospicua and Manoel Island Yacht Yard.

A total of 14 bids were received, of which three were for the ship repair facilities, five for Malta Super Yachts Facility, three for the shipbuilding facilities and three for Manoel Island Yacht Yard.

Preferred bidders had already been selected for the Marsa yard and the Manoel Island facility at the beginning of summer.