Italy's Palumbo SpA says it expects to start operations in the next few months under a 30-year concession at Malta Shipyards's dry docks in Cospicua.

The concession deed, which should be signed in February, gives Palumbo access to four Malta dry docks and spreads its activities to three locations in the Mediterranean.

Palumbo says restricted existing facilities in Naples and Messina has meant it turning away work, including for the repair and maintenance of cruiseships.

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