ANNOUNCEMENT
The Board of Directors of PPC S.A. decided today, August 25th, 2009, to award the contract for the construction of the Megalopolis V CCGT Unit to the lowest bidder, the Consortium METKA S.A. - ETADE S.A.
The net capacity of the Unit is 811MW and the net efficiency is 56.9%.
The budget for the construction of the Unit is
€ 500,000,000 compared to the initially submitted bid of the lowest bidding consortium of € 543,000,000. Furthermore, the consortium awarded with the contract will not raise any claims in relation to a potential delay of up to 13 months in the start of the commercial operation of the Unit, due to non-availability of the 400KV Transmission Network and/or the natural gas pipeline.
The contract award is subject to the acceptance by the preferred bidder of the relevant Special Clause, which is included in today's BoD decision and will form part of the contract expected to be signed between the two parties within the next two months.
Athens 25-8-2009