May 12 (SeeNews) - Croatia’s Koncar – Engineering (KET), a unit of electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI], said on Friday it has signed a 3.1 million euro ($3.4 million) contract for the reconstruction of the 220 kV switchyard at hydro power plant Kidatu.
The contract, KET's first project in Tanzania’s electricity transmission and distribution sector, was signed on a turnkey basis with Tanzanian power company TANESCO, the company said in a press release.
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The works on the switchyard will include the replacement of worn-out equipment and modernization of the facility at one of the most important power plants in Tanzania and one of the largest in the area, as well as the installation of Končar's SCADA system.
The project should be completed in 12 months. The main subcontractor for the works is Croatian power engineering company Telenerg - Engineering, which KET acquired at the end of last year. KET had carried out the rehabilitation of one generator at HPP Kidatu in previous years, and the project of rehabilitating a second one is underway, with an offer for a third generator under preparation.
Koncar Elektroindustrija's shares traded 0.78% higher at 130 euro intraday on Friday on the Zagreb bourse.
($ = 0.916 euro)