Korinthos Power S.A. and ΜΕΤΚΑ S.A. signed the contract for the construction of a 436.6 MW power plant in Ag. Theodori (Corinthia), whose key details are as follows:
1. Project Owner: Korinthos Power S.A. Korinthos Power S.A. is a company held jointly by MYTILINEOS HOLDINGS S.A. (65%) and ΜOTOR OIL (HELLAS) CORINTH REFINERIES S.A. (35%).
2. Contractor: METKA S.A.
3. Key Project Characteristics: Engineering - Procurement - Construction (EPC) and commissioning of a 436.6 MW combined cycle gas turbine power plant with an efficiency higher than 57%.
4. Duration of Implementation: 28 months
5. Contract Budget: euro 285 million
This new unit presents a number of significant advantages: it will be one of the most modern power plants to operate in Greece with a very high energy efficiency, is located in the country's Southern System near regions with high energy consumption requirements, and uses existing infrastructures for its interconnection to the power grid and to the Natural Gas system.
With the signature of this contract, the signed backlog of projects contracted to the METKA Group is further increased by euro 285 million and now stands at a total of euro 1.5 billion (awarded projects and projects for which contracts have been signed), boosting the Group' s portfolio of domestic projects while maintaining a balanced growth of its activities in the traditional Greek market and the foreign markets.
For more details, please contact: Mr Nikolaos Kontos, Group Investor Relations Officer (Tel.: 210-6877395, Fax: 210-6877400, e-mail: nikos.kontos@mytilineos.gr).