Metka SA, Greece's largest power engineering firm, has announced that it had won, in a joint bid with Ansaldo, a EUR 650 million contract to build a combined cycle power plant in Deir Ali, south of Damascus.
Metka said on September 8 that it was awarded the EPC contract by the Public Establishment for Electricity Generation and Transmission (PEEGT). The project involves the construction of a 700 MW natural gas fired power plant.
The contract is the largest of a Greek firm in Syria ever and the largest for Metka ever. According to the statement, the Meta/Ansaldo consortium was in competition with a consortium by Siemens and Aste and won because it was the lower of the two bids.
Nikolaos Kontos, Group Investor Relations Officer at Metka, told The Syria Report that the Greek company had a 100 percent stake in the bid, while Ansaldo would supply the main equipment.
The project is scheduled to be completed within 36 months after the signing of the contract, according to the statement.
In an interview with The Syria Report in April this year, Hisham Mashfej, head of PEEGT, had announced that his company had plans to add over 4,500 MW in generating capacity in the coming three years.
On the news of the award, shares of the Greek company surged by over 12 percent in the afternoon trade at the Athens Stock Exchange.
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Metka Wins EUR 650 million Deir Ali Power Plant Extension Contract
- Syria: Sunday, September 14 - 2008 at 18:44
New power plant is part of a Government strategy to add 4,500MW within three years.
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Jihad Yazigi, Editor, The Syria ReportSunday, September 14 - 2008 at 18:44 UAE local time (GMT+4)
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This article was updated on Tue Oct 28 2008.
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