PGE Opole expansion with further delays

WSE-listed power group PGE said that after the negotiations with the general contractors, the construction of its two power units in Ostrołęka plant will be further delayed. The block number 5 will be finished by end-May next year (5monthsh later), while block number 6 will be delayed by 2 months to end-September 2019. “In our opinion, the completion of the investment at the above deadlines is possible on condition that the general contractor will act most urgently, implementing necessary changes to guarantee completion on time,” PGE said in a market filing. The contractors for this projects include WSE-listed Polimex-Mostostal, Mostostal Warszawa, Rafaka, as well as GE Power. PGE added that the negotiations with the contractors have not been concluded yet. This is another delay for the project, the initial completion date for unit 5 was set for end-July this year, and for unit 6 at end-March, 2019. New blocks will have 900 MW capacity combined.