The Privatisation Unit said today that it had received two bids in the process for the privatisation of Malta Superyacht Facilities.

The privatisation process was re-launched on July 20 through a call for tenders published in the Government Gazette.

The original call had been stopped in February amid allegations of attempted bribery. The government had said at the time that the bids were too low for the profitable facility.

Seven prospective bidders collected the tender documents from the Privatisation Unit after the second call. The closing date was yesterday.

The Privatisation Unit said the initial adjudicating process had now commenced. Once it is completed, the Financial Offers would be opened and the bidder with the best financial offer would be declared as the preferred bidder.

The government plans to grant the facility on a 30-year concession.

The superyachts facility used to form part of Malta Shipyards but was hived off before the dockyard's privatisation. It has two dedicated docks, including one which has a retractable cover, workshops and site offices.

The operation has grown steadily since being set up in 2003 and has secured large contracts including extensive refits on some of the world’s largest and best known superyachts.