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APR temporarily stops Libyan power plants due to contract delays

Reuters - UK Focus

Nov 7 (Reuters) - APR Energy Plc (Other OTC: APRYF - news) said it had temporarily suspended electricity generation in Libya while the country's parliament completed some necessary paperwork related to contracts with the company.

The company's stock fell as much as 11 percent to a record low of 330 pence on Friday, making it one of the top percentage losers on the London Stock Exchange (Other OTC: LDNXF - news) .

APR, a supplier of temporary power plants in some of the world's most unstable countries, said its plants in Libya were on standby until the matter was resolved.

The government of Libya in July had extended APR's 450 megawatt contract through to the first quarter of 2015, but the final parliamentary review process has been continuously delayed. (Reporting by Esha Vaish in Bangalore; Editing by Savio D'Souza)