Sechilienne-Sidec stock rallies on Martinique project

(ADPnews) - Jun 27, 2011 - French independent energy producer Sechilienne-Sidec (EPA:SECH) saw its shares rally on Monday, lifted by the announcement of progress in an electricity project in Martinique.
At 1729 CET, Sechilienne had gained 4.55% to EUR 17.12 on Euronext Paris.
Earlier today, Sechilienne announced that the French energy regulation commission CRE has approved its 30-year project for the supply of electricity in Martinique. The company plans to build a 38 MW CCG-2 power plant. Now Sechilienne has to submit a building permit application and a request for authorisation.
The site has to be operational in December 2014.
Meanwhile, Sechilienne reassured investors that its earnings before interest, tax, depreciation and amortisation (EBITDA) are expected to rise by at least 15% in 2011, thanks to tax relieves. If the tax effect is excluded, its EBITDA is seen to grow by 10% this year.
(EUR 1.0 = USD 1.417)

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