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Mediterranean Maritime Hub Finance starts trading on MSE

Date: 18/11/2016

The Mediterranean Maritime Hub Finance plc has started trading on the Malta Stock Exchange after last month’s issue of €15 million in unsecured bonds was oversubscribed before its official closure.

The funds will be used to develop the Mediterranean Maritime Hub into a service centre for the marine, oil and gas industry. The hub will be located on the circa 170,000-square-metre site of the former Marsa Shipbuilding, which was taken over by Ablecare Oilfield Services Holdings earlier this year, after it won a competitive bid by the government. The land was leased for 65 years, and the company plans to develop the hub with an investment of around €50 million over the next 10 years.

The oil and gas industry in the Mediterranean has a desperate need for assured project delivery on timing, cost, safety and quality, right across a broad spectrum of activity, and the hub is focusing on achieving just this.

“This success gives us great satisfaction; it is a clear indication of the strong reputation our company enjoys,” MMH CEO Stephen Col­ville said. “The hub will be providing availability, predictability, reliability and repeatability through a number of unique selling points, mainly that everything is located in one place operating in a free trade zone,” he added.

Source: Times of Malta  

 
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