Pavlidis Marble-Granite to invest 70 mln euros in energy project

Pavlidis Marble-Granite’s board approved an investment plan worth 70 million euros in the renewable energy source sector for the period 2017-2020.

The plan envisages the development of four energy parks with a total power of 50 MW for the production of electricity power in Macedonia and Thrace and more particularly in Serres, Komotini and Thrace. Construction works are scheduled to begin in March 2017. This investment will improve the company’s project portfolio, raising its position in the Greek renewable energy source market.

Pavlidis Marble-Granite expects positive results in 2016, boosted by marble exports, and said that investing in windpower energy would offer new sources of liquidity.

Pavlidis Marble-Granite reported an annual turnover of 50 million euros in 2015 and expected a 20 pct increase in 2016.