AEC is to have a 20 per cent stake in SPC, while state energy company Sonatrachand state power company Sonelgazwill hold 30 per cent and 50 per cent respectively. A 10 per cent stake in SPC will be ceded to the company awarded the operation and management (O&M) contract for Skikda power plant, which is expected to have capacity of about 800 MW.

Four groups of international contractors submitted O&M proposals together with engineering, procurement and construction (EPC) bids for the plant at the end of January. AEC is expected to start technical evaluation of the offers from Spain’s Iberdrola, Germany’s Siemens, SNC Lavalinof Canada and Sofresidof France by early March and will call for commercial proposals in April.

The plant is due to come on stream in the last quarter of 2005.