Vinci signs a 284 million-euro contract to build a hydroelectric plant in Morocco

Vinci, a French concessions and constructions company founded in 1899 as Société Générale d’Entreprises, has signed a 284 million-euro ($341 million) contract for the construction of a hydroelectric plant in Morocco, the company announced on Tuesday, 9th of January, reports Fox business. This agreement goes hand in hand with the Kingdom’s plan to develop renewable energy.

The French company, headquartered in Rueil-Malmaison, is intending to start a joint venture with Andritz Ag, an Austrian plant engineering group. The two European companies will develop the Abdelmoumen pumped-storage plant, located 70 kilometers away from Agadir.

Vinci’s objective is to finish deliver two reservoirs and auxiliary infrastructure while Andritz will have to take care of the electromechanical equipments.