Brief: Litgrid EGM Approves Repair Service Agreement For Nordbalt Connection DC Cable

Litgrid AB

21/10/2020 14:09

Oct 21 (Reuters) - Litgrid AB  LGD1L.VL :
    * SAYS THAT EXTRAORDINARY GENERAL MEETING APPROVES
CONCLUSION OF
EMERGENCY REPAIR SERVICE AGREEMENT FOR NORDBALT CONNECTION DC
CABLE WITH NKT HV CABLES AB
    * SAYS THAT THE CONTRACT PRICE IS EUR 17.0 MILLION EXCLUDING
VAT
    * SAYS THAT THE ANNUAL FEE IS EUR 300,000 EXCLUDING VAT
    * SAYS  TERM OF CONTRACT IS UNTIL THE FULFILLMENT OF
CONTRACTUAL
OBLIGATIONS, BUT PERIOD OF PERFORMANCE OF WORKS IS THREE YEARS
FROM DAY OF CONCLUDING AGREEMENT
    * SAYS  THERE IS POSSIBILITY TO EXTEND THE AGREEMENT TWO
TIMES FOR
A TERM OF ONE YEAR

Source text:  ID:nGNE2rv8Zd 
Further company coverage:  LGD1L.VL 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))