On the 26th of April, the Ministry of Economy held a press conference in the fabrication sheds to officially announce the conclusion of negotiations for the takeover of the ex-Malta Shipbuilding facility by Ablecare Oilfield Services Group. The Hon. Prime Minister Joseph Muscat and Hon. Minister Dr. Chris Cardona addressed the crowd and members of the press.
The Group was declared preferred bidder in January of the previous year. The company is estimating to invest Euro55million to develop and rehabilitate the area. The Mediterranean Maritime Hub will be the platform on which Malta’s future as the support centre for the Mediterranean oil and gas sector is built and from which it will expand, reaching out to the international oil and gas
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