An adjudicating committee is to be appointed for the privatisation of Malta’s yacht marinas after bidding closed Monday at 12 noon.
The Privatisation Unit received twelve bids for three facilities, the Msida Yachting Centre (Msida Gardens Pontoons A to G), Ta’ Xbiex Yachting Centre Pontoons H to O) and Mgarr (Gozo) Marina.
Successful bidders will have to upgrade the marina facilities and infrastructure within 24 months, including fittings to quay walls, pontoons, moorings, water and electricity installations, access control gates, fire-fighting equipment, chains and shackles.
They will also commit to a berthing fee structure for a period of five years. At the end of the twenty-five year concession period the facilities will revert back to the Malta Maritime Authority.
They will also have to run the marina facilities in compliance with the appropriate local regulatory and international standards, including but not limited to environment protection, security and occupational health and safety.
On the launch of the privatisation process, Minister of Finance, the Economy and Investment Tonio Fenech had expressed his belief that in the hands of experienced and reputable private operators, complemented by investment in upgrading the existing facilities and improved berthing management, the marinas’ unique location and facilities could be positioned to take advantage of the business opportunities presented by a growing and dynamic yachting industry.
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