With only nine months left for the building of the new gas power station, the company behind it insists the job is on track

Project coordinator Michael Kunz from Gasol, the lead company in the consortium building the plant, said the timeline set out by the government would be met.

He said design and planning related to geo-technical work – subsurface studies of the ground to determine how the foundations will be built – was complete and he expected engineers to make physical inspections next week.

“The timelines for the infrastructure works and completion of the project, including the floating storage unit, are unchanged and remain feasible,” Mr Kunz told Times of Malta.

Mr Kunz dismissed concerns over Gasol’s financial state after the company announced last week it was de-listing from the London Stock Exchange’s alternative investment market (AIM).

Gasol said it was unable to raise capital from institutional investors as there was little interest in committing funds to companies like it.

Asked whether this meant Gasol was encountering problems in acquiring finance for its Malta project, Mr Kunz insisted this was not the case.

“Gasol has not encountered any problems raising capital in respect of the Malta project and we are not aware of any other consortium members having any such issues,” he said.

“The de-listing will have no impact on the Malta project.”

More in Times of Malta and the e-paper on timesofmalta.com Premium.

ksansone@timesofmalta.com

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