Melita Marine Group have announced an investment worth €5 million in a bid to further transform the group into a strategic provider of design solutions in order to meet the growing demand for refits on yachts and superyachts, said company director Pierre Balzan in a public announcement.

Attending the announcement, held at Melita Marine Group’s shipyard facilities in Paola, were also the Minister for Transport, Infrastructure and Capital Projects Ian Borg and Minister for the Economy and Industry Silvio Schembri.

In a joint statement, they said that, “As a government, we are committed to promoting a Malta which is renowned as a centre of excellence in the maritime sector, a sector which is increasing its contribution to the Maltese economy while creating employment opportunities.”

The company’s €5 million investment consists of:

1. Manufacture of generator sets in Malta - €800k;
2. Extension of Bulebel facilities - €1.8 million;
3. Investments in hydroponics and renewables such as microgrid and fuel cell technology- €1 million;
4. Planning of a 10,000kw dynamometer in Greece available for commercial use - €1.1 million.

Minister Borg said, “All this further strengthens Malta’s position as a major jurisdiction for yacht services. It is an honour for us to have a Maltese shipyard which is considered, among the most prominent newspapers, as one of the best shipyards in the world."

"We recall that, in recent years, Malta has achieved many successes in the maritime sector, such as the Ship Register with which, by the end of 2020, Malta had the largest register of superyachts in the world with almost 860 registered superyachts.”

He continued, “We have also launched a number of training courses which will be delivering and giving opportunities to a number of students interested in this industry, to grow their skills and have a number of opportunities when it comes to high skilled and professional jobs.”

Minister Schembri spoke about the ongoing strategic work in the Ministry for Economy and Industry towards creating a more diversified economy. He stated that the maritime sector, including the superyacht industry, engineering and logistics, are being seen as sectors with great potential for the next Maltese economy and employment sector.

He explained how the maritime and engineering sectors are two areas in which the country will continue to see growth in job and career creation both in Malta and beyond, in sectors such as mechanical, electrical, electronics, automation, welding, painting, and project management.

In the case of the Melita Marine Group, he noted that the workforce of this company at present reaches about 200 people, with 87 workers offered opportunities in countries around the world, and with youths offered a possibility of apprenticeship and training. He was informed that, in the coming years, the company’s short, medium, and long-term plans envisage the creation of around 100 new jobs.

In his speech, director of the company Pierre Balzan said that they place a strong emphasis on building the highest competencies in each area of the group. He said that this extensive investment of €5 million continues to form part of their gradual but courageous strategic approach to establish the group as one of the largest players in the marine industry.

This will further transform the group into a strategic partner to be a provider of design solutions in order to meet the growing demand for refits on yachts, superyachts, as well as in the field of renewable energy and mechanical, electronic and electrical engineering.

The Melita Marina Group has served as a maintenance site for 32 years for hundreds of ships. It offers many other services, such as surveys, repairs, conversions, retrofitting and ship repair. Having gained vast experience and knowledge of the Maltese yacht market, Melita Marine operates in Europe, Africa, the Middle East and the Caribbean and has a shipyard base in Spain.

Today, they have become exclusive distributors for Rolls Royce Power Systems / MTU with, facilities in Malta, Greece, Cyprus and Libya, and are recognised as one of the best superyacht yard facilities in the Mediterranean.