METKA S.A.

New EPC Project for Power Plant in Ghana

New EPC Project for Power Plant in Ghana

METKA S.A.

METKA S.A. is pleased to announce the signature of a new EPC contract with Amandi Energy Limited for a new power plant in Ghana. The contract signature took place in London on 11 March 2016.

The project owner, Amandi Energy Limited, is jointly owned by A. Energy Development Limited and Aldwych International Limited, a leading developer and investor in energy projects in sub-Saharan Africa.

The project will be executed by METKA in consortium with General Electric, and includes the engineering, procurement, construction and commissioning of a 192MW combined cycle power plant in Takoradi. The plant will be implemented with capability to operate on both natural gas and light crude oil, and will utilize the latest advanced version of General Electric's well proven 9E gas turbine. The project will be constructed in 28 months.

The contract value for METKA is approximately $174 million. Implementation of the project will commence upon completion of financing, currently under finalization by a group of leading international financing institutions.

This is METKA's second major project in Ghana, and emphasizes the company's commitment to become a leading player in the sub-Saharan Africa power market.