Iberdrola signs a 328 mln euro contract in Lithuania

VILNIUS, April 24 (Reuters) - Spanish power utility Iberdrola (IBE.MC) signed a 328 million euro ($432 million) contract to build a combined heat and power gas fired turbine in Lithuania, local power plant operator Lietuvos Elektrine LEL1L.VL said on Friday.

Iberdrola will build a new 444 megawatt unit by 2012, Lietuvos Elektrine said in a statement.

The tender was arranged by European Bank of Reconstruction and Development, and the bidders for the project also included the Polish unit of Canadia's SNC Lavalin (SNC.TO), Germany's Siemens (SIEGn.DE) and Swiss unit of France's Alstom (ALSO.PA).

Lietuvos Elektrine's current total capacity is 1800 MW and it will become the major power supplier in the Baltic state after the shutdown of the ageing Ignalina nuclear power plant at end-2009. (Reporting by Nerijus Adomaitis; Editing by Dan Lalor) ($1 = 0.7592 euro)