Business | Oil & Gas
Greek-Italian venture wins Syria deal
Greek builder Metka, in a joint venture with Italy's Ansaldo, won a 650 million euro ($932.4 million, Dh3.42 billion) contract to build a power plant in Syria, its biggest ever contract, the company said on Monday.
- Agencies
- Published: 23:49 September 8, 2008
Athens: Greek builder Metka, in a joint venture with Italy's Ansaldo, won a 650 million euro ($932.4 million, Dh3.42 billion) contract to build a power plant in Syria, its biggest ever contract, the company said on Monday.
The venture made the lowest bid to build a 700-megawatt (MW) natural gas powered energy plant for Syria's Ministry of Electricity. The plant will be operational within 36 months of the signing of the contract, Metka said.
"This project is the biggest in Metka's history," the company said in a statement. Metka has been seeking to expand beyond the Greek market.
The joint venture prevailed over a joint bid by Germany's Siemens and Aste.
Earlier this year, Metka and its joint venture partner General Electric ware named best bidders for an 860MW power station in Romania.
Metka, the construction unit of mining and energy group Mytilineos, has a construction backlog of 1.3 billion euros with this project.
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