22 SEP 2022

Libya's electricity system is strengthened with 185MW through the completion of the first construction stage of a power plant by MYTILINEOS

Athens, Greece - 22 September 2022 MYTILINEOS (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) through its Sustainable Engineering Solutions (SES) Business, announces that the first stage of construction for the power plant in Tobruk, Libya has been completed and already 185MW is distributed to the country's electricity system.

The immediate solution coming with the commissioning of the facility built by MYTILINEOS is a major relief on the wider region of Tobruk, which has been going through a tough period over the recent years due to energy instability and many hours of power cuts. In fact, the Company managed to carry out the project, based on the initial timetable set, under the difficult conditions imposed internationally by the Covid-19 pandemic, without compromising employees’ health and safety.

Commenting on the completion of the plant’s first construction stage, Kostas Horinos, Director Power, LNG/GAS, Industrial, T&D of MYTILINEOS’ SES Business Unit stressed: "MYTILINEOS seeks to be part of the solution towards ensuring stability in the country's electricity supply sector. We are committed to staying in Libya to upgrade the daily lives of citizens, offering energy security and stability."

In cooperation with the General Electricity Company of Libya (GECOL), the Company is also undertaking the implementation of the remaining construction stages, so that overall the plant has a capacity exceeding 650 MW with dual-fuel capability (gas or liquid fuel). On completion of the project, Libya will have a modern and efficient unit capable of meeting the energy needs of households and businesses.

Greece, as a Member of the European Union, has been actively involved in the reconstruction of Libya, and MYTILINEOS has been offering, right from the outset, valuable know-how in the field of energy infrastructure.

MYTILINEOS is now recognized internationally as a company that responds to demanding international markets, with significant energy needs, consistently delivering high-quality projects.

As it has already been announced, the contract value for MYTILINEOS stands at $400million.

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