One of many first strategic strikes of the Stassi administration at PPC was the closure of the corporate’s lignite items.
And turning off the chimneys slowed down the interval of the power disaster, however the firm is coming again to implement its choice, which foresees the closure of factories by 2026.
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Regardless of this non permanent hiatus, PPC has made nice progress over the previous two years on the entrance of decreasing carbon dioxide emissions from its thermal energy crops. And it issues, past the plain environmental subject, and for the objectives he has set for the bond loans he signed in 2021.
As Inexperienced Tank studies, the corporate managed to scale back its emissions to 14.94 million tons in 2022, 35% lower than the corresponding ranges of 2019 (23.09 million tons). On the identical time, in 2023 the discount in comparison with 2019 exceeded 50% (-50.3%), as cumulatively all PPC thermal items are estimated to have emitted 11.47 million tons. It is a file efficiency.
Allow us to recall that in its new strategic marketing strategy for the three years 2024-2026, which it offered in January 2024 on the Capital Markets Day in London, it dedicated to restrict the emissions from its thermal items to five.9 million in 2026. tonnes, a lower of round 75% in comparison with 2019 ranges.
The primary quarter
Through the first quarter of the 12 months, in line with Inexperienced Tank, PPC’s thermal items emitted 3.19 million tons, recording a 17.5% lower in comparison with the identical interval in 2023. This lower is greater than double the corresponding proportion lower which was famous within the emissions of all thermal items of the nation (-7.6%). Due to this fact, PPC’s remaining coal funds for the remaining 8 months of 2024 is 6.41 million tons, i.e. 66.8% of the 12 months’s complete coal funds.
PPC, it appears, is preventing to realize the aim and a brand new file…
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Mr. Dimitris Papalexopoulos
Rather less than a month is left for Mr. Dimitris Papalexopoulos to finish his time period because the president of the board of administrators of SEB.
The elections are on June 18, and as is thought, the top of the Titan group is not going to search re-election.
Frequent appearances
The reality is that Mr. Papalexopoulos has elevated his public appearances within the final two months.
He largely chooses to take part in conferences and different occasions that contain discussions. We just lately noticed him at Eurelectric’s Energy Summit organized by PPC in Athens, at a particular occasion of the Affiliation of Mining Corporations and on the annual assembly of the World Group of Capital Market Supervisory Authorities (IOSCO). The three occasions that I point out to you as examples happened within the final two weeks.
And naturally, Mr. Papalexopoulos additionally participated within the BSE occasion for the European elections the place he mentioned their stake with Mr. Evangelos Mytilineos.
The messages
As individuals who know Mr. Papalexopoulos inform me, the density of his participation in public occasions isn’t just by probability.
No, he isn’t going to vary his choice on the BSE election.
Along with his public statements, Mr. Papalexopoulos seeks to underline the priorities of the Affiliation and of Greek entrepreneurship as a complete for the longer term.
And as I’m knowledgeable, from June 18 he will not be the president of SEB once more, however he’ll place himself brazenly for the burning problems with entrepreneurship and the Greek financial system.
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Motor Oil
As you’ll learn within the OT, Motor Oil is implementing an enormous funding program for 2024.
The group’s complete expenditure is anticipated to set a file and attain 340 million euros.
Funding legislation
For certainly one of them, help from the event legislation has been secured. It quantities to 14.1 million euros and issues the modernization of two items of the refinery, that of atmospheric distillation and alkylation. The intention is to extend volumes and higher manufacturing of intermediate petroleum merchandise.
For this funding, Motor Oil will obtain a tax exemption of 4.9 million euros as help.
Basic Meeting
The corporate’s personal participation quantities to three.5 million euros and the remainder of the funding of roughly 10.5 million euros is roofed by borrowing.
The protection of the identical participation by the corporate shall be finished by sequestering retained earnings and changing them into extraordinary taxed reserves which can seem in a particular reserve account and won’t be distributed or capitalized for seven years from the completion and begin of the productive operation of the funding .
For this choice the administration of Motor Oil will request the approval of the annual common normal assembly of shareholders.
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