Evangelos Mytilineos announced the agreement of Mytilineos with PPC for the new and last contract for the supply of electricity at the Aluminum plant of Greece during the regular annual general meeting of the shareholders of the listed company.
The president and CEO described the agreement as satisfactory for both parties, noting that it will last until 2023 and underlined that it will be the last in the 60 years of operation of the factory in Agios Nikolaos, Boeotia.
“We are divesting from PPC, something we were afraid to do for years”, he noted characteristically to announce that after 2023 the plant will cover the electricity needs from the new 826 MW gas unit as well as from bilateral contracts with photovoltaics. “We will green aluminum [production] and we will have cheaper energy,” said Mr. Mytilineos.
As he said, the new unit that will be ready for operation at the end of the year is located just 500 meters from the Aluminum Factory of Greece and will be connected by a powerline.
He himself praised the attitude of the president and CEO of PPC George Stassis, saying that he is distinguished by realism and understands the needs of industry.
Agreement with Glencore
Evangelos Mytilineos also announced the reaching of a new agreement, lasting ten years with the metallurgical giant of Glencore. As he said, this is a supply agreement worth 1.5 billion dollars, according to which the Aluminum of Greece will supply with guaranteed prices of alumina and aluminum for four years.
The largest investment program
The president and CEO of the listed company also announced that Mytilineos is implementing for 2021 the largest investment program in Greece amounting to 600 million euros.
He also announced that the construction of the first photovoltaics from the 1.48 GW acquired by the Egnatia Group will begin this summer. This is 140 MW from the first package of 572 MW.
Doubling sizes
Mr. Mytilineos, moreover, estimated that the next years and especially after 2022 will be years of doubling the size of the listed company.
As he said, in 2022 the company’s profitability will double, while for 2021 it will be a much better year compared to 2020.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Trump Tariffs Jeopardize Growth: Piraeus Chamber of Commerce
The tariffs, aimed at reducing the U.S. trade deficit, are expected to have both direct and indirect effects on the European economy
EU Condemns Trump Tariffs, Prepares to Retaliate
As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.
The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.
Motor Oil Results for 2024: Adjusted EBITDA of 995 mln€; Proposed Dividend of 1.4€ Per Share
Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year
Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.
Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses
Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.
Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February
Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.
Jerry Kalogiratos Highlights Key Role of Energy Transition and Data Demand in LNG Outlook
Energy transition and the prospects of LNG were discussed at Capital Link’s 19th Annual International Maritime Forum, during a panel discussion with Jerry Kalogiratos (Capital Clean Energy Carriers Corp.)
![ΕΛΣΤΑΤ: Αυξήθηκε η οικοδομική δραστηριότητα κατά 15,6% το Δεκέμβριο [πίνακες]](https://www.ot.gr/wp-content/uploads/2025/03/DSC9655-2-1024x569-1-90x90.jpg)
