NEC Wants 84% of Gorna Arda.

13.12.2000

The National Electric Company (NEC) intends to increase its stake in the Gorna Arda joint venture up to 84%, officials from the Energy Agency said yesterday. NEC representatives leave for Ankara today to take part in the session of the Ceylan Holding's Board of Directors. They will also negotiate with Ceylan to lower its share in Gorna Arda down to 16%. NEC currently holds 70% of Gorna Arda water cascade's shares and Ceylan - 30%