Talks with Neapolitan shipyard Palumbo Cantieri SpA – selected as the preferred bidder for the privatisation of the Cospicua Shipyards - are at an advanced stage. Replying to a Parliamentary Question by Labour MP Leo Brincat on Monday evening, Finance Minister Tonio Fenech said that the privatisation process for the four different entities composing the Malta Shipyards Limited were “at different stages”.
Regarding the Cospicua Ship Repair, Fenech announced that negotiations “were going well” and expressed his hope “that it will not be long before be reach an agreement”.
Fenech was also optimistic about the conclusion of discussions with the preferred bidder on the Malta Island Yacht Yard, describing discussions as being “at a very advanced stage”.
However, Fenech was less optimistic about the negotiations for the privatisation of the Marsa Shipbuilding.
“Negotiations are still ongoing,” he said, without giving any hint about their outcome or whether they were at an advanced stage or not. Regarding the Malta Super Yacht facilities, Fenech said that the existing bidders had been asked to submit fresh bids since the original bids had not reached the expectations of the adjudication committee.
“These bidders were expected to present their bids in January 2010,” Fenech told Brincat.
