A number of strategic investments in Europe which would also offer opportunities to Maltese companies are to be announced in the coming days, Energy Minister Konrad Mizzi said this morning.

Speaking in Parliament during the debate to turn Enemalta into a plc, Dr Mizzi said the energy company would be retaining dispatch rights over electricity generation and it would be the body to decide whether to operate the BWSC or Electrogas plants or the interconnector. Its decision would depend on costs.

The interconnector of its own, he said, would have been expensive at certain times so a mix was required.

The government, he said, had an open dialogue with Shanghai Electric which knew that investment in Enemalta was a long- and not a short-term commitment.

Shanghai Electric, he said, would appoint a third of the directors at Enemalta and the government would appoint the chairman and the other directors.

Enemalta’s debts were to be fully paid this year without the government’s deficit being affected.

Emissions from chimneys were to be reduced by one million tons through the conversion to gas, the Marsa plant would close and the Delimara chimney removed.

The minister said that the workers’ jobs were guaranteed and that they would retain the same conditions and seniority. Engineering Resources Ltd was to be wholly owned by the Maltese government.

Enemalta, Dr Mizzi said, would remain the watchdog and would continue to set prices.

The bill was approved after a division.