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FINANCIAL NEWS
Metka to build $934m power plant in Syria
23 Oct 2010
(MENAFN) Greek engineer Metka, part of Mytilineos Group, said it has signed a contract to build a 724 megawatt thermal power station in Syria, as it expands abroad to counter the crisis at home, Reuters reported.
A joint venture between Metka, with a 77 percent stake, and Italian group Ansaldo STS had been declared preferred bidders for the $934 million contract last year.
It was the second power station contract the two companies have won in Syria. In June 2009, they signed a contract for the construction of a 700 megawatts thermal plant south of Damascus.
Metka is chasing projects in the Balkans and the Middle East where it expected economic growth and power shortages to fuel investments in energy infrastructure.
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