Palumbo superyacht refit expands into Malta

23 March 2011 • Written by Malcolm MacLean

After having been declared the preferred bidder for the tender to acquire Malta Super Yacht Services late last year, Italy’s Palumbo Group has this week taken over the yard, now called Palumbo Malta Superyachts Ltd.

The Maltese Government has signed a contract for € 29.4 million, including an annual ground rent of € 500,000 to be paid for 30 years.

The total area of the grant is around 45.000 square meters, comprising two dry docks of 160m x 25m and 140m x 18m. The latter is also equipped with a retractable shed allowing painting work.

Now with sites in Naples, Messina and Malta Shipyards, the Palumbo Group aims to create a centre of excellence in the Mediterranean and with this latest site is confident about building a new competitive force in the superyacht repair, maintenance and refitting industry.

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