PRIVATISATION OF MALTA FREEPORT
In 2004, the Government signed an agreement for thirty years with the CMA-CGM Group, granting them the right to operate and develop the Malta Freeport. As a result of the agreement, the Government has sold all its shares in the Malta Freeport Terminals Limited and entered into an agreement to lease the port facilities and to grant a licence for the operation of the Port. For the duration of the agreement, the Government remains the owner of the site of the Port facilities.
The Malta Freeport is an international port which was established in 1988 and was the first transhipment hub in the Mediterranean region. The company has experienced notable growth over the years and ranks twelfth among the top European ports and is the third largest transhipment and logistics centre in the Mediterranean region.
The Malta Freeport represents a strategic platform for the shipping lines that have chosen it as their Mediterranean hub port being located at the crossroads of some of the world's greatest shipping routes and in the heart of the Europe, Africa and Asia's Middle East triangle.
The current activities carried out at the Malta Freeport are:
A container terminal, operated by Malta Freeport Terminals.
An oil terminal, operated by Oiltanking Malta.
A logistics base for offshore oil & gas industry, operated by Medserv.
Warehousing, operated by a number of different tenants.
For the duration of the agreement, CMA-CGM will be solely responsible for all the necessary investment to improve the facilities and equipment and to introduce new machinery on site. This will ensure that the Malta Freeport will remain a leader among the container terminals of the region. The Licence granted to CMA-CGM provides that the Group remains obliged to ensure that the Port remains a common user facility, allowing different clients to avail themselves of the Port’s services. This means that incumbent contracts and commitments of the Malta Freeport are not affected by the privatisation.
Source: D.O.I. - 05.10.2004