ECONOMY

Attica-Crete power link attracts offers

attica-crete-power-link-attracts-offers

Major players in the electric cable construction sector have shown an interest in bidding for the Athens-Crete power connection, a 1-billion-euro project expected to be completed by 2022, according to Ariadne Interconnection, a special purpose subsidiary of the Independent Power Transmission Operator (ADMIE) which administers the project.

ADMIE chief Manos Manousakis said contracts should be signed by the end of the year.

Completion of the project is forecast to result in 326 million euros of savings for end-users, in the form of lower electricity bills, in the first year after its completion and 400 million savings annually over the following 20 years.