| Lm130,000 worth of equipment for Malta Shipyards |
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| Tuesday,September 26,2006 Posted: 18:38 BJT(38 GMT) Malta "Independence" |
The Chinese government has donated six air compressors worth Lm130,000 to the Malta Shipyards.
The air compressors, which are part of the pneumatic infrastructure of the shipyard, will replace compressors dating back from the 1940s.
Investment, Industry and Information Technology Minister Austin Gatt and Chinese Ambassador Liu Zhengxiu signed the hand-over agreement, which is part of the fourth cooperation agreement between the governments of Malta and China.
Speaking to the press, Minister Gatt said Malta Shipyards had used Chinese grants to improve its infrastructure.
It had acquired frequency changers and its switchgear, cable, a balancing machine, an emergency diesel generator set, an overhead magnetic crane for steel yard and a section bender.
The Sino-Maltese agreement also included the financing of the dredging project in Marsa Creek. Dr Gatt also referred to the biggest Chinese financed project, Dock 6. He expressed his appreciation of the close relationship between the two countries, adding that China has become the economic wonder of the world.
Ambassador Liu said the financial agreements are a symbol of the friendship which exists between the two countries.
He also referred to the increasing trade and cultural exchanges between Malta and China, saying that this year’s volume of trade between the two countries is expected to reach $800m, an increase of $280m over last year.
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