First he said ‘it still had to be signed.’

When Simon Busuttil faced him with the fact that it was signed he admitted and stated that what he said was that ‘it still had to be published.’ – “ghadu ha jigi ippublikat ghedt”

Two lies in the space of 30 seconds. Listen to that clip again – unbelievable.

It gets more interesting actually.

The participation of Siemens in the ElectroGas consortium is via a subsidiary, Siemens Projects Ventures, which is the equity financing arm of Siemens Financial Services.

I am assuming that Siemens have taken a shareholding on the basis that they will provide financing in order to get the contract to build the power station (as they are a major manufacturer of power plants).

Now the Chinese company that Gasol have partnered up with also construct power plants as well as providing financing through Chinese banks.

So, who is providing the financing for the power station construction, Siemens or the Chinese?

Also, Gasol have just taken a 30% stake in Malta Power and Gas (the SPV set up by Enemalta to get the project started). They are a tiny company, yet one of the biggest shareholders in ElectroGas.

So, who provided them with the equity to buy in. Siemens or the Chinese? Who is going to build the power station? Siemens or the Chinese?

http://www.maltatoday.com.mt/business/business_news/38981/gasol_first_company_to_buy_30_of_enemalta_subsidiary#.U3NA3fQW3LU

http://www.eemsmond-energie.nl/en/eemsmond-energie/siemens-project-ventures.aspx

http://www.energy.siemens.com/hq/en/fossil-power-generation/power-plants/

Hekk mela Net TV u Radio 101… ibqgħu semmgħu għal darba, tnejn, tlieta sakemm tibda toħroġ minn widnejna… waħda wara l-oħra, kull gidba li qal matul din l-aħħar sena. Forsi l-iswitchers jifhmu darba għal dejjem x’għamlu b’idejhom meta vvutaw giddieb u wikkewh lil Malta kollha biex imexxi pajjiżna. Mhux li kien bħal Pinocchio jikbirlu mnieħru ma’ kull gidba li jgħid, kieku mur ara x’imnieħer għandu?

https://m.youtube.com/watch?v=emeeIZAHMZY

I think there might be a connection between the issues.

Is Siemens still on board in the Electrogas Consortium?

As Gary says, how can you have Gasol signing up with a Chinese state-owned company which builds power plants and at the same time join Siemens to build a power plant in China-controlled Malta?

And then the Chinese company brings with it Chinese bank financing. Muscat would love that.

Nik, with Muscat the game is to read his every word, it’s your innate decency which leads you to raise him to your level.

Muscat also said he doesn’t think ministers’ honoraria should be increased ‘f’din il-legislatura’, that was 2012.

Last week’s puzzle is something no-one should underestimate.

The one where he doesn’t pass comment to court sentences having just stated this was persecution.

He ended by saying institutions were left to pass judgement in an independent manner.

Fancy that, we should show our displeasure until he intercedes for the wrongdoer.

His is manipulation of the sequence of logic, which has nothing to do with truth. Logic is a science, like any science it can be used to betray truth.

Daphne once noted that he manages to make people do exactly what they don’t want to.

He makes them buy things they didn’t know they needed, and if they refuse to need, he’ll sell them what they want, which is what he tried to sell in the first place.

He sold free childcare to the mainstream saying this would bring young mothers onto the job market, told them core target they would feel emancipated. Last week he gave them the news they can’t choose the path to independence, cleaning floors is all they’ll ever get.

In other words it’s their fault if they’re unskilled, and that’s where they’ll remain.

And there was the PN, simpering in a corner, at a loss how to declare one’s obligation to personal achievement and effort as the means.

The sooner everyone understand this, the sooner we get rid of him.

http://www.maltatoday.com.mt/business/business_news/38674/lng_provider_gasol_strikes_power_plant_agreement_with_chinese_state_company#.U3KKNPmSy5Q

“Gasol plc signed an agreement with China’s biggest machinery manufacturer, China Machinery Engineering Corporation (CMEC), a leader in the construction of power generation and distribution. CMEC is one of 44 firms in the Sinomach group of companies.

Together, the two companies have agreed to cooperate on prospective power projects, with Gasol offering CMEC a right of first refusal to be the exclusive engineer and provider of civil works on power plants. CMEC will carry out feasibility studies for the power plants and assist in the arranging of credit for the construction of the plants through Chinese banks.”

What is the relevance to ElectroGas? Well, Siemens are also a member of the consortium and it is my understanding that they are on board to build and operate the new gas power station as that is where they have expertise.

Now if you have another member of the consortium signing a deal with a Chinese state-owned company (China Machinery Engineering Corporation), then that may cause an issue within ElectroGas between the stakeholders.

It then gets further complicated when you consider that another Chinese state-owned company (Shanghai Electric) has bought a 33% stake in Enemalta recently for €320 million which includes the BWSC plant at Delimara.

ElectroGas was awarded the contract last October, but it’s my take that such a delay in the sign-off could have been caused by Siemens and SOCAR (the other consortium member) getting cold feet at the prospect of the Chinese trying to muscle in on the deal via Gasol.

That’s why the government is so quiet about signing the deal and so vocal about the 2 cents off fuel. Because, possibly, there is stuff going on that they have no control over and which could threaten to delay the whole project or even possibly derail it.

He cannot remember exactly what lies he has told and so he is constantly contradicting himself and his ministers.

Bidu gdid u direzzjoni gdida. Tahwid u frejjeg.

Trasparenza, meritocrazija u povra Malta li darba kienet taghna lkoll.

It’s a sticky one. Clearly Labour does not want to release it (if it ever will – stile the Henley & Partners mystery which I cannot believe they got away with so) before the election for some reason or other or wants to do that closer to the date. If it is pressed to release it and it does, it could either hit or miss depending on the contents.

I stand corrected on both points, but I think the thrust of my post remains sound.