The government announced yesterday that the Privatisation Unit has launched a fresh process for the privatisation of the Malta Super Yacht Services Facility.
It made no reference in its statement to the ongoing police investigation about a previous call for tenders, which was referred to the police after the Opposition raised the subject in Parliament. It transpired that eight months earlier the government had had the information which the Opposition presented in Parliament and which then led to the police investigations.
The government said yesterday that further to a call for expressions of interest in November 2008, the Privatisation Unit had issued four parallel Requests for Proposals, one for each of the four facilities which made up Malta Shipyards Ltd. The privatisation processes for the ship repair facility and Manoel Island Yacht Yard facilities were successfully concluded. In contrast, the privatisation processes for the steel fabrication facility and Malta Super Yacht Services failed to meet the government’s expectations and were cancelled on 3 February, 2010.
Based on MSYS’s past performance as well as on the potential future growth of the sector, the government said it firmly believes that the privatisation of the MSYS facilities represents an attractive business opportunity for prospective investors interested in further developing and operating these facilities for a fixed term. For this purpose, the government has decided to re-launch the privatisation process for the MSYS facilities, with a view to optimising sale proceeds.
Against this backdrop, the Privatisation Unit, acting on behalf of the government of Malta, has launched a Competitive Tendering Process for the granting of a 30-year concession for the Malta Super Yacht Services Facility.
The Super Yacht Services Facility is comprised of two dedicated docks, one of which is installed with a high retractable cover, a number of workshops and site offices. The operation has grown steadily since its inception in 2003 and has secured a large number of contracts including extensive refits on some of the largest and most distinguished super yachts.
The Privatisation Unit is inviting interested investors, experienced in the relevant business sector, to collect the necessary documentation to participate in the tendering process. The documentation, which can be collected from the Privatisation Unit, consists of a Call for Tender and Information Memorandum.
The documentation will be made available against the signing of a Confidentiality Agreement and a payment of €5,000.
PL reaction
Meanwhile, the Labour Party called into question the government’s attitude over the privatisation of the super yachts facility, with another call for tenders being made even as the police are still investigating the previous call.
Labour MP Charles Mangion, spokesman on finance, said that the call was referred to the police eight months after allegations were made to the government and only after the allegations were raised in Parliament. The Office of the Prime Minister and the Minister of Finance had been informed of the allegations, but did not refer them to the police before they were brought up in Parliament.
Dr Mangion said the police investigations are still not concluded, and there are allegations about the behaviour of an official within Mimcol, who seems still to be involved directly in the privatisation process, so it would have been prudent for the government to wait for the outcome of investigations, for it to be able to take corrective measures if necessary.
And there was incoherence on the part of the government. While a public call was being made for the super yachts facility privatisation, a project on the White Rocks prime site has been given out by direct order, Dr Mangion added.