Decision taken last December

It’s a good thing that this website has Chinese readers who alert us to matters reported on the Chinese state news agency portal and other official Chinese sites that would otherwise go unnoticed because we can’t read the language.

This official company announcement was published last December 1200445158 but was picked up only now by the reader who sent me the Chinese news agency story on Bank of Valletta’s €51.5 million loan to Shanghai Electric Malta Ltd, after running a search for related stories.

It is formal notification of how Shanghai Electric Group’s board of directors has decided to assist one of the group’s subsidiaries, Shanghai Electric Hong Kong Ltd, to apply for a €310 million bridge loan from banks for the company’s project in Malta. Shanghai Electric Ltd says it is offering a capital guarantee for the one-year bridge loan.

This company announcement was published in the same week the government of Malta signed its formal agreement with Shanghai Electric. Later that month, the Malta government announced that Shanghai Electric had transferred €250 million to Enemalta.