In Brief
Consortium plans 700-mln-euro Albanian power project Greece’s International Technological Applications (ITA) will participate in a consortium with Chinese companies Boading Tianwei Group and Shanghai Topsolar Green Energy which plan to begin construction of a 600 MWh power plant in Elbasan, Albania, before the end of the year. The project is the biggest part of the consortium’s 700-million-euro investment program, ITA’s President Antonis Gerasimou told ANA. The coal-fired plant, whose construction is projected to take two years, will export power to Greece and other European countries. There will be two supplementary projects, a biodiesel unit and a combined heat and power «greenhouse» production facility. RREEF in Cyprus property, regional UK hotel debut LONDON (Reuters) -RREEF, the property investment arm of Deutsche Bank, said yesterday it had bought Lanitis Development Public Ltd in a debut Cypriot deal which valued the firm at 126 million euros. RREEF also announced its first foray into the regional UK hotel sector with the acquisition of privately owned Four Pillars Hotel Group, owner of five hotels in central and western England. A source familiar with the matter said RREEF had paid around 120 million pounds for Four Pillars. As well as buying 97.8 percent of the shares in Lanitis Development, whose main asset was the Aphrodite Hills resort, RREEF said it had bought 1.1 million square meters (11.84 million sq ft) of land in Cyprus from the Lanitis Group. Rousse plant Slovenia’s Holding Slovenske Elektrarne (HSE) has finalized an 85.1-million-euro deal to buy a thermal power plant at the Danube River city of Rousse, Bulgaria’s privatization agency said yesterday. HSE filed the best offer for the 400-megawatt plant last December, outbidding French Dalkia International, a unit of Veolia Environement and Germany’s E.ON, but financial and regulatory issues delayed the deal’s compeltion. Under the contract, HSE is obliged to keep a majority stake in the plant for three years, but the company has said it plans to sell 49 percent of the plant to a business partner as it would diminish risk and ensure coal supplies. (Reuters) Used cars The European Court ruled yesterday that Greece’s way of taxing imported second-hand cars is not compatible with Community law, as it discriminates in favor similar Greek-registered cars. Yacht show The Exclusive Yachting 2007 Exhibition opened at the Aghios Cosmas Marina yesterday and will last until Monday.
