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Through decision no. 14613-04/09/2012 by the competent Minister (Ministry of Infrastructure, Transport &
Networks) the contracting classification of ΜΕΤΚΑ S.A., a subsidiary of MYTILINEOS Group, was promoted.
The specific subsidiary was promoted to the highest grade (7th) of the Contractor’s Register (ΜΕΕP). In fact,
under no. D15/11072/04.09.2012 MEEP certificate by the competent Ministry, the company is now qualified for
constructing a wide range of public works without top limit with respect to project budget.
In September 2012 the subsidiary ΜΕΤΚΑ S.A. was served an assignment letter for the extension of an existing
power plant in Jordan (1st EPC Project). The appointing agency is Samra Electric Power Co. (SEPCO) and the
project refers to Design, procurement, construction and commissioning of a 143MW power plant which consti-
tutes an extension to existing power generation unit, adding a combined cycle plant using Alstom technology,
to the already operational open cycle facilities. The total value of the contract amounts to US $143,140,774 and
10,955,000 Jordanian dinars and shall be implemented in a period of 28 months after assignment.
In October 2012, ΜΕΤΚΑ subsidiary was served a letter for the assignment of a second EPC project by the same
authority in Jordan.
The project refers to the design, supply, construction and commissioning of one Alstom GT13E2 gas turbine
and ancillaries, rated at 146MW at local conditions. The total contract value is $104 million US dollars and shall
be implemented as a fast-track procedure, aiming at commencing commercial service by the end of June 2013.
Following completion of thorough due diligence, a procedure entailing financial, legal, revenue and technical
auditing of the merged parties, as well as negotiations carried out in a spirit of mutual trust, reaching a final
agreement was not possible regarding the progressive acquisition of the Bauxite activities of S&B in Greece by
‘Aluminium S.A.’, a 100% subsidiary of MYTILINEOS S.A., as such has been announced on November 8, 2011.
The two companies, evaluating the challenges presented by the domestic and international environment, will
continue to pursue ways to improve the competitiveness of bauxite mining activities, whereas their commercial
collaboration will continue without impediments.
On December 13, 2012, the subsidiary Aluminum S.A. acquired 100% of the stock of the company titled DES-
FINA SHIPPING Co.
Finally, in December 2012 a new agreement was made between the Management of subsidiary Aluminum S.A.
and the company’s Labor Union. The aforesaid agreement resulted in preserving all employment positions and
the production capacity of the plant as well as significant cost streamlining on a viable and long - term basis.
Moreover, the following took place in the described period:
• On 15/5/2012, RAE (the Regulating Authority for Energy) issued decision no. 346/2012 that set a provisional
price, according to general principles for billing, equal to 42€/MWh, further to the envisaged utility operator
charges (UO), the Renewable Energy Sources Duty (RES), the Transmission System Levies and other taxes.
Application of the above mentioned provisional price, according to the rationale of the RAE decision, refers to
all operating hours of Aluminium S.A., in light of the single - zone tariff that matches its consumption profile,
for the entire period of the day; this shall be effective till the final decision by the arbitrators where Aluminium
S.A. and PPC have referred their dispute.
• Under Law 4093/2012 (Interim Budgetary Strategy Framework 2013-2016 – Urgent Measures for the Applica-
tion of Law 4046/2012 and Interim Budgetary Strategy Framework 2013-2016), an extraordinary duty has been
applied in November 2012 to power generators employing RES and HPEPHC plants. These rates amount to:
