A Chinese company’s investment in Malta’s energy sector will help bring Enemalta back on its feet, according to the Labour Party in government.

In a statement the PL said that a Memorandum of Understanding signed yesterday between Malta's Energy Minister Konrad Mizzi and Lu Qizhou, chief executive officer of China Power Investment Corporation, will lead to job security for Enemalta’s workers while also helping reduce its €840 debt. It will also lead to a better quality of air and cheaper energy tariffs.

The Chinese company that will inject cash in Enemalta is quoted in the Global Fortune 500 list. Global Fortune 500 is Fortune Magazine's annual ranking of the world's 500 largest companies.

The PL reiterated that it is saving the jobs of Enemalta’s workers through such an agreement.

Turning to PN leader Simon Busuttil and “his friends”, the PL accused the PN of leaving the corporation in a disastrous state.

“The PN led Enemalta on the edge of a cliff and which led to a drop in Malta’s credit rating as a result.

“Dr Busuttil is not in favour of protecting the interests of Enemalta’s workers and investment in the corporation.

“This government is making giant leaps in sectors the previous government failed,” the PL said.