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ZAGREB (Croatia), November 6 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] signed on Tuesday two contracts with a total value of about 5.4 million euro ($6.2 million) in Macedonia, the company said.
"The projects are part of an investment cycle of Macedonian transmission system operator MEPSO," Koncar said in a filing to the Zagreb Stock Exchange.
Koncar signed a 4.8 million euro contract for the refurbishment of the 400kV substation Skopje 4 in Macedonia, as well as a 630,000 euro agreement for the delivery and installation of a relay protection system in the Tikves, Vrutok, Spilje and Globocica hydropower plants (HPPs).
The Skopje 4 substation represents a particularly important junction in the Macedonian power grid, Koncar explained. The project includes the refurbishment of the primary equipment on 400kV and 110kV, the installation of the secondary protection and control equipment, the SCADA system, as well as the design, assembly, construction works, testing and commissioning.
The other project entails the design, procurement, and installation of the relay protection system in their substations, as well as their set up, functional testing and commissioning, the company added.
The projects are financed through a loan from the European Bank for Reconstruction and Development.
($ = 0.877417 euro)