State power firm Gecol has awarded a $400mn deal to Greece’s Mytilineos (was Metka) for a 650MW power plant at Tobruk, an apparent reissue of an $380mn EPC deal awarded by rival state power firm Gaerel.
Metka had said its original deal with Gaerel, set up by the Tobruk-based House of Representatives, was subject to final approval by the “responsible state authorities” to only become effective “upon the opening of an irrevocable letter of credit” (MEES, 3 February). This does not appear to have been secured. (CONTINUED - 188 WORDS)
