Hoteliers welcome Malta-China Enemalta agreement

The memorandum of understanding signed today between Malta and China Power Investments Corporation was welcomed by the Malta Hotels and Restaurants Association "good news" for Malta, tourism and manufacturing.

"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 MHRA said.

The agreement which is expected to be finalised in six months' time includes the setting up of a joint venture company in Malta specializing 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 MHRAm said the news was "excellent".

"The association has been for more than five years talking about Enemalta and the need for a new direction 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," Zahra said.