Tourism Minister Konrad Mizzi said in a tweet that the Electrogas guarantee has now been withdrawn, as banks have just confirmed that the bridge loan granted to Electrogas for the gas and power project has been fully repaid.
The Electrogas consortium had officially a security of supply agreement with Enemalta, and the government on 20 December. During that press conference, it was said that Electrogas had signed an agreement with nine different local and international banks who had stepped in to participate in the much debated project.
Addressing the press conference that day, Prime Minister Joseph Muscat had said that the turnaround in the local energy sector is now complete. He had said that local families and businesses are benefiting from cheaper prices and cleaner air. "This was no small feat. We turned Enemalta around and all of this within four years. This signing will mark the end of the journey."
Banks have just confirmed that the bridge loan granted to Electrogas for the #Malta Gas and Power project has been fully repaid. @MaltaGov guarantee has now been withdrawn.
— Konrad Mizzi (@KonradMizzi) December 29, 2017
The Electrogas deal has been a source of controversy, with concern over the safety of the LNG tanker, and concerns over the agreement between government and the consortium itself.
from The Malta Independent http://ift.tt/2ls1Hai
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