Privatisation agreement signed for Gozo’s Mgarr Marina

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Privatisation agreement signed for Gozo's Mgarr MarinaThe Mgarr Marina in Gozo is to be modernised by private investment after an agreement was signed between the Government and Harbour Management Limited. This agreement was signed in the presence of the Minister of Infrastructure, Transport and Communications Austin Gatt and the Finance Minister Tonio Fenech.

Minister Austin Gatt explained how the privatisation of the Marina in Mgarr, is a result of a process during the course of the past year, the process involved a detailed study of all existing marinas and others which may be developed, the study followed a process of consultation and meets the main objective of the Malta Government to serve as a center of excellence in maritime services.

The Minister Tonio Fenech explained that privatisation, should serve as an incentive for the local economy, especially within the tourism sector, as the company is established and has substantial experience in this sector can, leading to an improvement of the marina.

Tonio Fenech explained how the concession agreed between the Government and the Harbour Management Company Limited (HML) includes an advance payment of € 513.00 and a payment to Malta Transport, of an annual concession fee, in advance, of € 60,000 to increase by 10% every five years. The total lease for 25 years will be € 1,831,530 or € 1,371,179 when calculated under the net present value. HML will be responsible to operate, manage and develop the marina which contains about 200 spaces for mooring, in such a way that ensures its sustainability. The agreement also provides an additional payment in case of an increase in the number of moorings in the marina.

On its part the company will invest a total of € 340,000 in the development and modernisation of the marina.

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3 Responses

  1. Victor Galea says:

    What is next to be privatised? Fort Chambrai? Oh that is already!
    Next story please.

  2. Mario Psaila says:

    The above story is very interesting especially since I have asked, and asked, and even more asked around and I have not managed to find anybody who was consulted as stated in the above press release. As a boat owner and marina user I would have imagined that the boat owners would have been consulted, especially since a letter to this effect was sent to the competent authorities and acknowledged, but the consultation never happened.

    On another note, the poor Gozitans have yet to find out what they have been given by this. The Gozo Channel fee is suitable reduced for Gozitans and that is the way it should be, but in the marina’s case the young Gozitan who builds a modest boat in his garage will find out that the only place he can keep it in is Mgarr Marina which will charge him high end international rates and there is nothing he can do because he has been SOLD OUT.

  3. zena says:

    All over the world, for boats there are only 3 choices. 1st: if you rich have your boat moored next to your property. 2nd: A public marina, generally in poor shape, not reliable for boat that must remain in the water when not in use. 3rd: Since all goverments are the same, the only escape is private own or leased marina. The advantage is reliability but with a price to pay as this type of investors want their money back. There is no other alternative, best If you dont like it, give it up!

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