27 Oct 2004
Paris--Elyo Italia, a joint-venture unit of SUEZ, the French utilities giant and ERG Petroli, has announced it has won a 15-year contract worth €400 million to build and manage a cogeneration unit on the Michelin Italiana Spa tyre plant at Cuneo.
In a statement, Elyo said, "This contract encompasses the financing, the design, the construction and the management of an electric cogeneration facility of 50 MW that will supply the electric and thermal power required by the largest Michelin Group plant in Italy." Elyo added that the initial capital investment to build the project is €40 million, which comes entirely from Elyo resources.
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Press release from Elyo
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