Public Power Corp PPCD Cancellation of Cyclades Interconnection Center

  Public Power Corp (PPCD) - Cancellation of Cyclades Interconnection Center

RNS Number : 4768R
Public Power Corporation S.A.
19 November 2012


Announcement



With respect to the tendering process of the Cyclades Interconnection  Project 
with the Mainland System, PPC S.A. announces the following:

After the  completion  of  the  evaluation of  the  technical  offers  by  our 
subsidiary IPTO S.A., the financial  offer of the only technically  acceptable 
Participant, the  Joint Venture  of  the companies  «Siemens A.E.  -  Prysmian 
Powerlink Srl  - Nexans  Norway AS»  was opened.  The financial  offer of  the 
participating Joint  Venture included  terms and  prerequisites which  led  to 
significant financial  deviations from  the Terms  foreseen in  the  Tendering 
Documents and  the offered  price was  not considered  satisfactory. For  this 
reason, the offer was not accepted and the tender wascancelled.



Athens, November 19, 2012





                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


STRLLFVSLTLALIF -0- Nov/19/2012 14:39 GMT