Independent journal on economy and transport policy
18:23 GMT+1
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The Maltese government has authorized the transfer of 50% of Malta Freeport Terminals from CMA CGM to Yildirim
the concession canon is increased for five total years of 10 million dollars
November 7, 2011
The Maltese government and Malta Freeport Corporation (MFC), the governmental agency that is under responsibility of the ministry of the Infrastructures, Transports and Communications, have approved of the transfer from the French shipowning group CMA CGM to the Turkish group Yildirim of 50% of the share capital of Malta Freeport Terminals Ltd. (MFTL), the terminalista society of the French group to which in October the 2004 Maltese government has assigned to the concession of the duration 30-year-old in order to manage the container terminal of the port of Malta Freeport, concession whose lasted in February 2008 it is extended to 65 years. We remember that in November the 2010 Turkish group has acquired a participation of 20% in the same group CMA CGM ( on November 26, 2010 and 28 January 2011).
The transfer of 49% of the capital happens in the within of the concession contract in vigor, while for the remaining transfer of 1% of the capital - the Maltese executive has explained - the authorization by the government and of MFC has become necessary because of the business restructure that CMA CGM is getting ahead because of the crisis financial institution. In order to authorize such transfer the government and MFC have engaged the concessionaire to continue the investments in the terminal Malta Freeport until to carry it to a annual ability to traffic pairs to three million teu, to pour 10 million dollars in five years which additional economic quota regarding previewed how much from the concession contract, let alone to institute a bottom of 100.000 euros per year to assign to initiatives in favor of the community.
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The Maltese government and Malta Freeport Corporation (MFC), the governmental agency that is under responsibility of the ministry of the Infrastructures, Transports and Communications, have approved of the transfer from the French shipowning group CMA CGM to the Turkish group Yildirim of 50% of the share capital of Malta Freeport Terminals Ltd. (MFTL), the terminalista society of the French group to which in October the 2004 Maltese government has assigned to the concession of the duration 30-year-old in order to manage the container terminal of the port of Malta Freeport, concession whose lasted in February 2008 it is extended to 65 years. We remember that in November the 2010 Turkish group has acquired a participation of 20% in the same group CMA CGM 
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
