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Lebanon halts power plant agreement
- Lebanon: Wednesday, November 21 - 2012 at 04:30
Lebanese energy ministry has suspended an offer by two companies to build a power plant in Deir Ammar, after the cost of the project increased from $502m to $662m, The Daily Star has reported. The winning bidders need to cut prices by some $160m before they can go ahead with construction, energy minister Gebran Bassil told reporters in Beirut. "The price hike sought by the two companies came after the government asked that the total capacity of the plant be 450 megawatts. [Instead] the two companies had offered a capacity of 525 MW," he said following a meeting with Abener-Butec, the Spanish-Lebanese consortium that won the bid last month.
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