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Athens Macedonian News Agency: News in English, 17-01-11

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Kotzias to meet with Anastasiades in Geneva on Wednesday evening
  • [02] PPC and Larco agree on a 27 pct discount on electricity tariffs ending deadlock

  • [01] Kotzias to meet with Anastasiades in Geneva on Wednesday evening

    GENEVA (ANA/ N. Papadimitriou) - Cyprus President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci exchanged maps detailing the respective zones' boundaries, during their talks in Geneva on Wednesday. The maps will now be examined in detail by the land registry officials to decide whether the proposal of the other side is within the framework of the recent agreement.

    "The exchange of maps constitutes a milestone in the history of Cyprus," the Cypriot leader tweeted. "We continue with consistency our effort to meet the expectations of the Cypriot people."

    Arriving in Geneva late on Wednesday, Foreign Minister Nikos Kotzias had a brief meeting with Anastasiades at the hotel where the Greek delegation is staying. The two officials, along with Cypriot Foreign Minister Ioannis Kasoulides, will continue talks over a working dinner this evening.

    [02] PPC and Larco agree on a 27 pct discount on electricity tariffs ending deadlock

    Power utility PPC agreed on Wednesday on a 27 percent discount over tariffs charged to big industries for its second biggest client, the state-owned general mining and nickel producer Larco, in a long-standing dispute which has left the miner with unpaid bills totaling hundreds of millions of euros.

    According to the agreement, Larco will receive an extra 11 percent if it pays its bills on time and transfer to PPC the right to collect accumulated arrears towards Larco. The miner will be considered a consistent customer if it manages to repay at least three million euros every month between January and August 2017. Any additional debts will be divided in 16 tranches, starting on September 2017.

    The agreement follows numerous negotiations over several years between different boards of the two companies regarding the settlement of Larco's debts.

    The deal will be submitted for approval to PPC's board meeting on Thursday and will cover the period from 2016 to the end of 2020. The arrears of the period 2010-2015, for which a decision of an arbitral tribunal is pending, will be settled within the year.


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