ABB signs 270 mln euro NordBalt power cable deal

VILNIUS Fri Dec 17, 2010 9:31am GMT

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VILNIUS Dec 17 (Reuters) - Swiss-Swedish engineering group ABB (ABBN.VX) has signed a contract to build a 270 million euro power cable between Sweden and Lithuania, Lithuania's grid operator said on Friday.

"Today in Vilnius, the Swedish and Lithuanian power grid operators signed a 270 mln euro contract with Swedish energy company ABB, which will produce and install a 300 kilowatt HVDC cable for the NordBalt power interconnection," the grid company said in a statement.

It said Hans Holmstrom from ABB, Mikael Odenberg from Svenska Krafnat and Virgilijus Poderys of Lithuania's Litgrid signed the agreement. (Reporting by Nerijus Adomaitis)