Independent journal on economy and transport policy
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Super Malta Yacht Yard becomes part of the navalmeccanico group Italian Palumbo
Undersigned the contract of concession of the duration 30-year-old
March 21, 2011
Past friday the Palumbo Malta Superyachts Ltd. of the navalmeccanico group Neapolitan Palumbo the contract of concession of the duration has undersigned with the Maltese government 30-year-old that assigns to the management of Super the Malta boat yard Yacht Yard (former Super Malta Services Yacht) to the partenopea society ( on 17 December 2010).
The Maltese executive has explained that the total investment of the Italian group will reach 29,4 million euros including the purchase price of 7,5 million euros and the annual canon of concession of 500 thousand euros that can be varied of 15% every five years in the arc of the duration of the contract. Moreover the government has specified that the agreement engages Palumbo to at least invest 3,6 million euros in the first five years of the contract.
The Maltese minister of the Economy and Finances, Tonio Fenech, has emphasized that the understanding with the Italian company will ulteriorly strengthen the nautical industry of Malta, island that during the last few years has become an important base for this section and, in particular, after its income in the European Union.
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