Anthems, Greece– 29 August 2022 - MYTILINEOS (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) through its Sustainable Engineering Solutions Business Unit (SES BU) signed the first 3 contract agreements (out of a total of 4) for the construction and maintenance of the same number of distribution network projects for the Hellenic Electricity Distribution Network Operator S.A. (HEDNO).
The said 3 contracts of HEDNO concern the following areas:
Apart from electrification projects, and the maintenance, modifications, and enhancements of the network the Company will, also, undertake all construction works to connect renewable energy projects with the distribution network, change overhead to underground networks within the urban and suburban network and reconstruct existing networks in order to ensure the stable operation of the existing network.
Alongside these, as foreseen through the contracts in the purpose of digital modernization and care for the environment projects included in the National Recovery and Resilience Plan Greece 2.0 will also be carried, such as the replacement of HT electricity meters with smart meters, the upgrade of the HEDNO aerial network in forested areas and the upgrades of the HEDNO network with the aim of enhancing resilience and protecting the environment.
In the last decade, MYTILINEOS has consistently participated in the upgrade and optimal operation of HEDNO's distribution network by executing projects of similar contracts.
The contract price for MYTILINEOS for these 3 contracts amounts to €97,690.000 plus VAT, while with the signing of the 4th contract which will concern the contract for the region of Volos, the total value will reach €114,700.000 plus VAT.
All works are expected to last 48 months from the signing of the contracts.
