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Slovenia Business Week no. 02: Riko To Build Hydro Plant in Macedonia

Civil engineering company Riko has won a EUR 41m tender to build a hydro power plant in Macedonia

Civil engineering company Riko has won a EUR 41m tender to build a hydro power plant in Macedonia, the Ljubljana-based company said in a press release on Thursday, 5 January.

For the project of constructing the Sveta Petka (Matka 2) plant and an accompanying 70-metre dam, the company will have to take out a loan with Ireland's Depfa Bank, while additional cover has also been guaranteed by the Slovenian Export Corporation.

Riko intends to hire sub-contractors from Macedonia and Slovenia for the project, the company added.

The Macedonian government published the tender in 2005. A special commission of the Macedonian power producer Elektrarne Makedonija found Riko's offer to be the best.

The government in turn accepted the commission's choice. Macedonia will repay Riko's loan over 15 years, the company wrote.

Source: Slovene Press Agency STA

Author: STA