Mytilineos Holdings

Athens-listed group Mytilineos on Wednesday said that it is ready to start construction on a new natural gas-fired power plant at the company's Energy Center in Aghios Nikolaos in Viotia.

Mytilineos has completed all of the necessary licensing procedures for one of the largest gas-powered combined cycle electricity units in Europe.

Despite the selling trend observed at the Greek bourse early on Wednesday and the distribution of dividends by a number of blue chip companies, stocks recovered in the latter half of the trading session, with the majority recording gains and turnover heading higher.

Mytilineos group head Evangelos Mytilineos has expressed concern over the future of Public Power Corporation, suggesting his company could withdraw from the tender for PPC's lignite-powered units.

Blue-chip company Mytilineos posted significant growth in both turnover and profitability in the first quarter of 2019, according to data released on Friday.

On a consolidated basis, turnover amounted to 513.9 million euros, compared with 360.7 million euros in the same quarter last year, resulting in an increase of 42.5 percent.

Foreign investors are making a dynamic comeback in the Greek market of renewable energy sources (RES), which has accounted for the biggest deals in the business sector in the last couple of years.

The five main bidders in the first stage of the previous tender for Public Power Corporation's four lignite plants at Meliti and Megalopoli threw their hats into the ring again on Friday, in addition to another company from China.

Energy stocks led the way and banks recovered in time to help the benchmark revert to gains in Wednesday's session at Athinon Avenue and end near the day's high, albeit on the lowest daily turnover this week.

Wednesday's results of the tender for the sale of the coal-fired electricity units of Public Power Corporation at Megalopoli and Meliti confirmed estimates saying that lignite is not at all attractive as a fuel form any longer.

The construction of the transit center at Thriasio in western Attica is set to get under way after almost two decades of efforts in that direction.

The latest development concerns the selection of the Mytilineos group to construct the infrastructure of the center that will be developed and operated in the next 60 years by the consortium of ETVA VIPE with Goldair.

Greek industrial group Mytilineos expects sales to top 2.2 billion euros next year, from 1.5 billion euros this year, thanks to its growing alumina business and new projects in Libya and Ghana, its chairman said on Thursday.