An agreement with a Chinese State-owned energy company to invest €320 million in Enemalta is close, but the Energy Minister, who returned from China yesterday, is still refusing to confirm the deal will be sealed by the end of 2014.

“Our target is to sign the agreement by the end of the year. We will be making an announcement shortly – we have wrapped up almost all aspects of the agreement,” Konrad Mizzi said yesterday.

Dr Mizzi was replying to questions from a Times of Malta journalist who was waiting at the airport’s VIP lounge on his arrival from Beijing, where he held talks with Shanghai Electric Power.

The urgency to conclude the agreement stems from the fact that the proceeds would go towards settling some €150 million in excise duties that Enemalta owes to the government.

Read more on Times of Malta.

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