Public Power Corporation S.A-Hellas (PPC) signs a memorandum of cooperation with China Machinery Engineering Corporation (CMEC) at the company’s offices in Athens on Wednesday 14 September 2016. On the basis of the agreement, the second lignite-fired unit at its Meliti station near Florina will be built and a joint company will be created with the participation of PPC, CMEC and the owners of the lignite mines from which the Meliti project will be fuelled. The investment for the construction of the unit is estimated at 700 million euros and investments in nearby lignite pits will raise the total investment to more than one billion euros.
Chairman and CEO of PPC Emmanouel Panagiotakis had joined Greek Premier Alexis Tsipras during his visit in China in July 2016. On this occasion, Mr Panagiotakis signed a Non Disclosure Agreement with Assistant President of CMEC Fang Yanshui. The collaboration between the two sides now becomes tangible.