“Government Invests €1 Billion to Protect Families from Rising Energy Costs” Says Minister Miriam Dalli

During a visit to Thermoplastics, Minister for Energy Miriam Dalli met with staff and toured the facilities. Kenneth Caruana, the company’s Managing Director, explained that Thermoplastics, established in 1996, has remained competitive across European and Eastern markets largely due to Malta’s stable energy costs.

“Our operations are heavily dependent on energy prices, both electricity and the plastic that forms the basis of our products. The assurance that energy prices in Malta remain stable allows us to offer cost-effective services while continuing to invest in both the company and our employees,” Caruana stated.

While Minister Dalli observed the company’s operations, Chief Operating Officer Mark Spiteri and Chief Development Officer Stephen Xerri highlighted that Thermoplastics operates three manufacturing plants, including one in Tunisia. Committed to sustainable practices, the company ensures that plastics are recycled for use in production and that materials purchased are either recycled or biodegradable.

“Over the years, we have replaced 75% of our machinery with more energy-efficient equipment. We are also planning a full renovation of our premises to further improve energy efficiency and integrate renewable energy sources,” Caruana added.

These investments are expected to increase the number of highly skilled employees at Thermoplastics, in areas such as engineering, finance, human resources, and logistics.

Minister Miriam Dalli emphasised the Government’s commitment to supporting businesses and households with energy costs. “From 2021 to the present, the Government has invested around €1 billion to shield families from international pressures on electricity, fuel, and LPG prices. This commitment will continue to be upheld in next year’s Budget,” she stated.

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