The process for the privatisation of Malta Shipyards reaches another milestone today when the international call for expressions of interest will be published.

A spokesman for the Finance Ministry said the call will be published in the leading maritime publications Lloyds List and Fairplay.

The process was kicked off last week when the government issued schemes for the voluntary early retirement/resignation of dockyard workers.

The government argues that the shipyard would be more attractive to potential bidders if the workforce of some 1,600 is reduced to about 700.

No firm decision has been taken yet over whether the shipyard will be sold as a whole to one investor or whether its various sections will be sold separately, since that will depend on the bids that are received, once the call for bids is opened.

The government will retain the title over the docks and surrounding properties, which will be leased to the winning bidder. It will be a condition of the contract that the area must continue to be used for maritime activities and cannot be used for speculation.

The exercise is expected to be completed by the end of the year.