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Vinci Signs EUR284 Million Hydroelectric Contract in Morocco

By Nathan Allen Dow Jones Newswires

Vinci SA (DG.FR) has won a 284 million-euro ($341 million) contract to build a hydroelectric plant in Morocco as part of the country's plan to develop renewable energy, the company said Tuesday.

The French construction company said it will lead a joint venture with Andritz Ag (ANDR.VI) to develop the Abdelmoumen pumped-storage plant, which will be located 70 kilometers from Agadir in southwestern Morocco.

Vinci will help to complete two reservoirs and auxiliary infrastructure, while Andritz will be responsible for electromechanical equipment, Vinci said in a press release.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

January 09, 2018 03:03 ET (08:03 GMT)