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Cyprus EAC Board to Seal J&P Avax Contract, Thrasou Tells CyBC

The board of the Electricity of Cyprus will have to formally approve a renegotiated deal with J&P-Avax SA (AVAX) for the completion of a unit at the Vasilikos plant, chairman Haris Thrasou told CyBC.

The new contract will allow the Athens-based construction company to complete construction work before summer on the plant’s fifth 220-megawatt unit, which had been halted by an explosion on July 11, Thrasou told the Nicosia-based state radio today.

To contact the reporter on this story: Stelios Orphanides in Nicosia at

sorphanides@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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