Be the first to comment!Shanghai Electric agreement concluded for €250 million investment in Enemalta
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A €250 million transaction between the Chinese company Shanghai Electric Power, Enemalta and the Government has been concluded. “This investment is the largest ever seen in our country,” the Government said.
This now completes the agreement that was reached on the 12th of December, meaning that Shanghai Electric will be taking a 33% stake in Enemalta for which the company will pay €100 million and purchase a 90% shareholding in the BWSC plant for €150 million.
The Chinese company will also pay €70 million to convert the BWSC plant from working on heavy fuel oil to gas.
The Prime Minister Dr Joseph Muscat told Enemalta workers earlier this month that “this will strengthen your jobs and offer a future.”
Photo: DOI/Martin Attard
