The memorandum of understanding signed today between Malta and China Power Investments Corporation is indeed very good news for Malta, the Maltese tourism and manufacturing sector as well as the individual citizens of Malta, the Malta Hotels and Restaurants Association said today

The agreement is viewed by MHRA as a new chapter for Enemalta which is the most crucial public sector owned companies that impacts every single business in Malta, especially more so those like the hotel industry where energy is a substantial percentage in costs incurred to run the business.

The agreement which is expected to be finalised in six months’ time includes the setting up of a joint venture company in Malta specialising in the manufacture of photovoltaic panels with the objective to enter the EU market.

The Chinese company in return will be able to service its plants in Europe by calling upon the expertise of Enemalta employees.

Tony Zahra president of MHRA said the news of this agreement is “excellent news particularly for Malta’s Tourism industry. The association has been for more than 5 years talking about Enemalta and the need for a new directions and new blood to come in. This agreement gives such new blood and a new direction and we congratulate the pm and the minister for energy on the signing of this agreement”

MHRA said that they are now looking forward to meeting with the new investors and planning together the way forward. “We welcome the new investors to Malta and will cooperate with them to implement the necessary changes to achieve reductions in charges and upgrading of infrastructure and services.”

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