Matelec wins $108 million power agreement
Energy Ministry will install transformers in
Matelec won a tender conducted by the Ministry of Energy and Water for the purchase and installation of main transformers that work on compressed gas.
An agreement was signed between the Ministry and Matelec on January 3, 2014, to install the transformers in substations located in Bahsas-Tripoli, Achrafieh, and Beirut’s southern suburbs.
The contract, valued at $108 million, is part of the Ministry emergency power plan to provide additional power. The company will be involved in the process of transportation and distribution of power.
Lebanon-based Matelec set up manufacturing sites in four countries, Jordan, Egypt, France and Algeria, and has local offices in Algeria, Nigeria, Senegal, Kenya, South Africa, Saudi Arabia and Iraq. Matelec’s turnover reached $277 million in 2010.
Sami Soghayar, General Manager of Matelec, said: “This is a good opportunity for our company to widen the scope of its local activities. We will use state-of-art transformers made in Lebanon for this purpose.”
Reported by Yassmine Alieh
Date Posted: Jan 03, 2014