Actavis to save three quarters of a million in energy bills

25% electricity reduction and 5% water tariff reduction for businesses comes into force

Minister Konrad Mizzi met with Actavis managing director Patrick Cachia
Minister Konrad Mizzi met with Actavis managing director Patrick Cachia


Leading pharmaceutical company Actavis will be saving some €750,000 on energy bills, helping the company substantially decrease its cost of production.

Actavis managing director Patrick Cachia said the reduction will help the company increase its investment in the training of workers while it seeks to continue investing in more efficient and alternative energy.

Actavis, established in Malta in 1976, employs some 750 workers in its two plants in Bulebel and Hal Far. It is one of the established pharmaceutical companies across the world and its plants in Malta produce four billion capsules every year.

Energy Minister Konrad Mizzi this morning visited the Bulebel plant, during which he announced that the government's pledge to reduce energy tariffs for businesses will come into force today. It is estimated that businesses - from manufacturing companies to hotels and restaurants and corner shops - will save €50 million collectively.

"Thanks to this reduction in the energy tariffs, Actavis will be saving €750,000 every year. Our biggest expenses our workers' salaries and energy bills are our second. The reduction will mean a lower cost of production and more money that can be invested in the latest technology and workers' training," Cachia said.

He added that the company will keep working to increase its efficiency while also investing in alternative energy.

The energy minister said government had to do its part to continue helping companies that invested so heavily in their resources but were hindered by high energy costs.

"These companies bring a lot of work to Malta and we felt the government had to do its bit," Mizzi said, adding that the reductions were possible thanks to a savings plan and Enemalta's investment.

He said that Enemalta will be emulating best practices adopted by enterprises to continue learning.

"The manufacturing industry is here to stay and we will do all that we can to help them flourish," Mizzi said.

Asked whether there will be reduction in fuel prices, the minister said an announcement will be made later on today.