18 SEPTEMBER 2002

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Lm300,000 Chinese grant for Malta shipyards

As one of the outcomes of several meetings within the Joint Mixed Economic Commission between Malta and China, the Chinese government has put three grants of some Lm150,000 each at the disposal of the Maltese government.

The grants' objective is to assist in identified areas of economic co-operation between the two countries.

At a press conference held at the Malta Drydocks, Economic Services Minister Josef Bonnici, together with the Vice Minister for Overseas Trade and Economic Cooperation of China, Zhou Keren, presented a Lm300,000 grant to MDD Chairman John Cassar White.

At Prof. Bonnici's request, the first of these grants, totaling Lm300,000, have been allocated for the purchase of equipment from China for use at the Malta shipyards. The bulk of the equipment has already been at the MDD for some time now in order to have the necessary testing and installation carried out.

Minister Bonnici explained that the better part of the grant has been spent on the purchase of switchgear cables, frequency changers and other electrical equipment that will be used to upgrade the electrical infrastructure at the Malta shipyards.

Other items of equipment purchased include engineering equipment for use in the MDD workshops such as a balancing machine that has been already installed and already fully operational.

China and Malta have established a Joint Commission to promote, facilitate and assist the development of greater economic ties between the two countries.

 



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Editor: Saviour Balzan
The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07, Malta
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