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Malta Freeport prospers despite sale delay.
(From Lloyds List)
AT THE end of 2003 it looked like the privatisation of the Malta Freeport Authority was a done deal, with France's CMA CGM due to sign a 30 year concession imminently.
Nearly a year on and little has changed. Talks are still going on behind closed doors with little detail on the reasons for the delay.
A spokesman for the French company selected as the preferred bidder and the Freeport's largest single customer told Lloyd's List that he was confident the deal would still go through but could not indicate when.
A similar message is relayed by the Malta Freeport Authority itself. The privatisation is being carried out by the Ministry for Industry, Investment and Information ' Technology.
'The Freeport is confident that the privatisation exercise will support the sustainable development of the company,' a spokesman said. 'CMA CGM has grown significantly over the years and it certainly has the capital base required to drive Malta Freeport's business forward.'
Despite the slow pace of the privatisation, the Malta Freeport Authority is expecting another bumper year.
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