Malta Shipbuilding Site Converted for Oil and Gas Industry
By Aiswarya Lakshmi
Sunday, June 28, 2015
The Maltese government is all set to set to transform the ex-Malta Shipbuilding site into a service hub for the oil and gas industry, directly employing 160 people while paving the way for Malta to benefit from growing business in the Mediterranean region.
The had sought bids for the concession of the 175,000 square metre site for its development as a maritime hub. Twenty-eight expressions of interest were submitted, followed by six bids, and last January, Ablecare Oilfield Services Group – a Maltese company established in 2001 – was announced the preferred bidder for the site.
The entire Malta Shipbuilding site is to be allocated to the Ablecare Group in what should be a 45-year lease.
The company aims to develop a top regional service hub for the oil and gas industry, aimed to attract business from rigs in the Mediterranean and beyond.