Enemalta’s deal with Shanghai Electric Power has fallen behind because the Chinese side is seeking assurances that the corporation will buy the electricity produced from the BWSC plant, which it will take over.

The deal with Shanghai Electric – a Chinese state company – was originally planned to be wrapped up by the beginning of September.

However, Enemalta sources said “problems had cropped up with the Chinese” who are asking for more clarifications before they sign the deal. It is not yet known whether the deal will be possible by the end of the year.

Under the agreement first announced in September 2013 during a visit by the Prime Minister in China, Shanghai Electric will undertake to invest some €320 million in the corporation – €100 million to buy a 33 per cent stake in Enemalta, another €150 million to buy the BWSC plant in Delimara, and €70 million to convert it to gas.

Read more on Times of Malta.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.