MICHANIKI S.A. is participating this year in the 13th international conference and exhibition that takes place in Halkidiki, Greece from 25 to 27 September 2006. The central issue of HYDRO 2006 is the discussion of the topic of maximizing the benefits from hydropower. Speakers at HYDRO 2006 will discuss the direct and indirect benefits of hydropower, its synergy with other renewable sources of energy, ways of improving economics through prudent planning, and the use of advanced technology for design, construction and refurbishment. The national power authority, financiers, owners and operators, consultants, contractors and researchers are participating in HYDRO 2006. In the conference and exhibition MICHANIKI promotes six of its current projects. Namely: I. Sykia Dam: Sykia dam is the second most important large hydraulic public project in Greece, concerning the diversion of Acheloos River towards Thessaly, central Greece. The project will provide energy and irrigation to an extended area. The project consists of the construction of a rockfill dam and the construction of a hydraulic tunnel with concrete lining. II. Peiros Parapeiros Dam: The project consists of a main water reservoir dam of maximum height of 75 meters and of total volume of 6.6 million cubic meters. Additionally, the project includes another smaller dam at the bottom outlet of the main dam. Michaniki S.A. will also install a steel pipeline of 10,250 meters for water transferring to the main dam. III. Hydroelectric Station at Theodoriana (4,0 MW): This small hydroelectric station started its operation in 2003, selling electricity to Greek Public Power Authority. Its annual sales amounts to Euro 1.0 m. and the net profit amounts to 50% of sales. IV. Hydroelectric Station at Agios Nikolaos (93,0 ΜW): MICHANIKI was recently informed on the joint decision from the Ministries of Environment, Physical Planning and Public Works, Development and Agricultural Development for the approval of the environmental compliance that has to be validated by the State Council. The Agios Nikolaos project with a power capacity of 93 MW will have an annual electricity output of 300 GWh. It is budgeted at 148.0 million euros and the annual sales of electric power will amount to Euro 20.0 m. V. Hydroelectric Station at Karpenisioti (5,4 MW): MICHANIKI has submitted its application in the Regulating Energy Authority in order to take the authorization of producing electric power from the Hydroelectric Power station that is going to be constructed in the area. The Karpenisioti project with a power capacity of 5.4 MW will have an annual electricity output of 21.779.000 KW. The annual sales of electric power will amount to Euro 1.5 m. VI. Hydroelectric Station at Temenos (10 MW):The Hydroelectric Station at Temenos, is going to be constructed in Drama Prefecture, Northern Greece on Nestos River. The project will include the construction of a canal of Deviation of Varitita Dam, and the construction of the Electric Power Plant. The power capacity of the hydroelectric power station is 10 MW and the annual electricity power will amount to 60.000.000 KW. The annual sales of electric power will amount to Euro 4.2 m.