Gasan look­ing to pull out of power sta­tion con­sor­tium

Malta Independent - - Front Page -

Gasan En­ter­prises is look­ing to pull out of the Elec­troGas con­sor­tium, which owns and runs the new gas-fired power sta­tion in De­li­mara.

In a state­ment signed by chair­man Joe Gasan and CEO Mark Gasan, Gasan En­ter­prises said that they had not re­ceived any div­i­dends from the project and had de­cided to iden­tify all av­enues in or­der to exit from the con­sor­tium.

“We have not re­ceived any div­i­dends and have only reg­is­tered losses in re­la­tion to our in­vest­ment in Elec­troGas,” the state­ment by chair­man Joe Gasan and CEO Mark Gasan reads.

“Any as­ser­tions be­ing made to the con­trary are fac­tu­ally in­cor­rect. In view of the con­tro­versy sur­round­ing this project and ir­re­spec­tive of the fact that we have done nothing un­to­ward at any point, we have de­cided to iden­tify all av­enues to exit our in­ter­est and not to profit in any way from this in­vest­ment.”

The Gasans own a third of a hold­ing com­pany called GEM Hold­ings along with the Fenech fam­ily and the Apap Bologna fam­ily. GEM Hold­ings it­self holds a 33% stake in the Elec­troGas project.

“We de­clare, pub­licly and unequiv­o­cally, that if there is sub­stance to the al­le­ga­tions of cor­rup­tion in re­la­tion to the project, we had ab­so­lutely nothing to do with it: we did not par­tic­i­pate in it, we did not sup­port it, we did not con­done it and we did not know about it. And if it did hap­pen, we con­demn it with­out reser­va­tion and trust that jus­tice will be served.”

“We are mor­ti­fied and shocked that links are be­ing drawn be­tween this project and the bru­tal as­sas­si­na­tion of Daphne Caru­ana Gal­izia. All our sym­pa­thies re­main with the fam­ily of Daphne Caru­ana Gal­izia, and, to­gether with all right-minded peo­ple, we look for­ward to the suc­cess­ful pros­e­cu­tion and con­vic­tion of all those who were in­volved in this ter­ri­ble act.”

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