Koncar Group and the Greek Public Power Corporation (PPC) have signed an agreement in Athens for phase one of the "Messochora hydropower plant revitalization" in Greece, the Zagreb-based group said in a press release on Thursday without revealing how much the contract is worth.

The state news platform Hina carried the company’s press release verbatim.

Several members of Koncar Group, led by Koncar Engineering, will take part in the project. Phase One of the plant revitalisation will include testing and analysis of all plant equipment, along with preparatory activities for the commissioning of the plant.

“Koncar had initially signed a contract with Messochora HPP at the end of the 1991-95 war, in the period when Koncar Group worked intensively to return to its former markets, including Greece. We would not be exaggerating if we said that, at the time, it was a crucial project, primarily for Engineering, and other Koncar Group members”, said CEO of Koncar, Gordan Kolak.

In 1996 Koncar was awarded an agreement to provide it with electromechanical equipment. The project was realized in the period from 1996 to 2002, with Koncar successfully completing the agreement, delivering and installing all the equipment within the contractual terms and conditions.

However, PPC had faced “certain administrative issues” which prevented it from filling up the reservoir with the water necessary for testing, and ultimately it was unable to commission the plant. Therefore, in agreement with PPC, the equipment was subsequently handed over and preserved so that the project could be continued once the necessary conditions are created.

“Little did we know it would take 20 years for Koncar to return to the hydropower plant. This agreement comes after months of negotiations with PPC,” Koncar said in the unsigned press release.