DGAP-News: United Energy Group plc: Greek PPC Fails to Meet the Criteria for HES Gornja Drina / Tender Commission of the Republic of Srpska Decides to Enter into Direct Talks with International Investors
(firmenpresse) - DGAP-News: United Energy Group Plc. / Key word(s): Preliminary Results
United Energy Group plc: Greek PPC Fails to Meet the Criteria for HES
Gornja Drina / Tender Commission of the Republic of Srpska Decides to
Enter into Direct Talks with International Investors
26.01.2011 / 10:49
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Haslemere, United Kingdom - January 26, 2011 - Word from government circles
has it that the Greek Public Power Corporation (PPC) has failed to meet the
criteria for a strategic partnership during the preliminary selection
procedure conducted by the Bosnian Republic of Srpska (RS) for the planned
construction of four hydroelectric power plants on the upper Drina. This
means that the legally required formal tender process has been concluded
without result, and that the tender commission will now enter into direct
contract negotiations with international investors. A Government statement
to this effect is expected for early February, once the incoming Government
has been formed.
'Following a lengthy and diligent review of the Greek bid it turned out
that it fails to satisfy decisive qualification requirements. This
documents once more just how much time and care the Government of the
Republic of Srpska takes with its biggest investment project. We assume
that the direct contract negotiations with well-known international
investors that have now been decided upon will be completed before the end
of Q1 2011,' said Dr. Rolf Haferkamp, CEO of United Energy Group. 'The
important thing now is that the new government of the Republic of Srpska is
confirmed in office, so that it can get on with its official business.'
In the wake of the elections in October 2010, objections had been raised
concerning the composition of Parliament and Government because not all of
the ethnic groups were proportionately represented. According to Government
circles, the ethnic groups will have agreed on a solution by the end of the
month. 'We are pleased to see the professional manner shown by the Republic
of Srpska. The initiation of talks with possible investors on short notice
ensures that only financially potent companies that satisfy the
qualification criteria will be shortlisted as bidders,' stated Dr.
Haferkamp.
United Energy Group plc
United Energy Group plc is an independent listed energy company. Formed in
2006, the company focused initially on the area of energy production.
During the past two years, UEG underwent substantial redevelopment, and
operates now in the business areas of Energy Consulting, Energy Trading,
and Energy Investments. The company has thereby responded to global market
trends as it seeks to make a significant contribution to the energy supply
sector, and to help meet the growing energy needs worldwide.
Forward-Looking Statements
This communication may contain certain forward-looking statements that
include declarations of intent, strategies and opinions relating to the
future and to the expectations of United Energy Group and its subsidiaries.
Any statement contained herein is based on information available on the
respective day to the management of UEG; and actual events, may vary
depending on the occurrence of future events that may or may not be subject
to the management's control, including risks and uncertainty factors that
may cause the actual outcome to deviate considerably. Such risks and
factors include, without being limited to, ramifications that acquisitions
may have for the company and its capital structure, exploratory findings,
market conditions, the stability of mineral oil and natural gas prices, the
uncertainty factors inherent in the operative business of mineral oil and
natural gas production, unexpected future investment requirements,
competition, statutory provisions, and other factors.
End of Corporate News
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110048 26.01.2011
Datum: 26.01.2011 - 10:49 Uhr
Sprache: Deutsch
News-ID 33060
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