PUBLIC POWER CORPORATION SA
Announcement
PPC S.A. announces that on July 28th, 2009, the Board of Directors decided by majority the following:
1. The postponement of taking a decision regarding the cancellation of the on-going tender and issuance of a new tender for the construction and operation of natural gas power units in Megalopolis with a total capacity of 750-835 MW.
2. The opening of the financial bids.
3. The authorization of the Chairman and CEO so as to, following the opening of the financial bids, act accordingly in order to safeguard the interests of the Company, especially in relation to:
- achieving a bid for the abovementioned tender not exceeding euro 500,000,000,
- the waiver by the contractor of any claim in association with a potential delay of up to 12 months of the commercial operation of the new plant for any reason, and particularly for delays in the construction of the natural gas pipeline and/or the construction of the HV Centers in Patras and Megalopolis and the HV Transmission Line Patras - Megalopolis for reasons not attributable to PPC.
1. The postponement of taking a decision regarding the cancellation of the on-going tender and issuance of a new tender for the construction and operation of natural gas power units in Megalopolis with a total capacity of 750-835 MW.
2. The opening of the financial bids.
3. The authorization of the Chairman and CEO so as to, following the opening of the financial bids, act accordingly in order to safeguard the interests of the Company, especially in relation to:
- achieving a bid for the abovementioned tender not exceeding euro 500,000,000,
- the waiver by the contractor of any claim in association with a potential delay of up to 12 months of the commercial operation of the new plant for any reason, and particularly for delays in the construction of the natural gas pipeline and/or the construction of the HV Centers in Patras and Megalopolis and the HV Transmission Line Patras - Megalopolis for reasons not attributable to PPC.