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ContourGlobal Selects GE-Led Group For Developing Kosovo Power Plant.

LONDON (Alliance News) - A consortium led by General Electric Co has been selected as the preferred bidder for the engineering, procurement and construction and long-term maintenance contracts for ContourGlobal PLC's Kosova e Re power plant project, ContourGlobal and Kosovo government jointly said Friday.

The power generation company expects to engage in further negotiations with GE to reach an agreement on final contract terms.

"This marks a key milestone in the development of the Kosova e Re project. We are delighted to move forward with such a world-class company with the commitment and capabilities to build Kosova e Re on time and according to the highest technical, environmental and safety standards. We have been pleased with the rigorous tendering process and the positive response received from the overall market," ContourGlobal Executive Vice-President and Chief Operating Officer Karl Schnadt said.

Shares in ContourGlobal were untraded at 212.00 pence each early Friday morning.

By Tapan Panchal; tapanpanchal@alliancenews.com

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Publication:Alliance Newswire
Date:May 3, 2019
Words:165
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