News Local EAC set to profit from sale of scrap metal

EAC set to profit from sale of scrap metal

The Electricity Authority of Cyprus (EAC) is set to profit from the sale of scrap metal, mainly steel, which has been lying in its warehouses for years.

The metal is estimated to weigh 1,250 tons of waste materials, including meters and empty metal barrels.

EAC announced yesterday a competition to clear its warehouses. The list of 1,500 tons of useless material is divided in 29 categories and the competition is addressed only to companies which possess a license to manage waste materials.

Most of these scrap metals are located at Vasiliko and Dekhelia power plants whereas warehouses in Nicosia Larnaca, Pafos and Limassol have 115 tons. EAC is also selling electrical and telephone cables.

EAC aims to clear all its warehouses before the beginning of the summer.

In international markets the average selling price of copper in scrap is about 5,500 euro per ton, aluminum is 1,590 per ton and steel clearance is 263 euro per ton.

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