‘Incredible’ interest shown in shipbuilding site – Cardona

The Privatisation Unit has dispatched over 20 sets of documents relating to the concession for Marsa Shipbuilding, just two weeks after the international Call for Expressions of Interest was issued. Investment Minister Chris Cardona said that there had been hundreds of enquiries, describing the level of interest as “incredible”. The Call for Expression of Interest was drawn up by the recently-resigned head of the Privatisation Unit, Emanuel Ellul, who had also drawn up the previous one during the 2008 privatisation. It closes on June 28, and following a period for clarifications, submissions for the 175,000-square-metre site must be made by August 5. The Government is proposing to grant a temporary emphyteusis of 45 years, negotiable for a longer period depending on the investment proposed, with an up-front premium and an annual ground rent. The eventual concession would require parliamentary approval. Dr Cardona said that this was the first time that there was an international Call For Expression of Interest for the site on this scale, although there have been other attempts to find an investor for the site (see box). “This is the first time that we are marketing it using...