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PPC to continue electricity supply to LARCO
12 02 2020Public Power Corporation’s board council on Tuesday agreed on a packages of measures aimed to facilitate the privatization of LARCO by approving the continuation of electricity supply despite the mining company’s huge debts to PPC.
More specifically, PPC (a shareholder of LARCO after trading debt for shares) decided not to raise any hurdles in the privatization process of LARCO on the condition that the company will timely pay electricity bills from now on and signing of an electricity supply contract with the clearing manager. LARCO’s debt to PPC has reached 350 million euros.