euro adhoc: Andritz AG
other
Ilisu hydropower station: Supply and
engineering contracts and credit agreements signed
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
16.08.2007
Graz/Ankara, August 16, 2007. The supply and engineering contracts and the credit agreements for the construction of the Ilisu hydropower station in south-east Anatolia, Turkey were signed in Ankara yesterday. The total project volume amounts to approximately 1.2 billion Euros, of which 530 million Euros fall to the European supply and engineering consortium, consisting of Andritz, Alstom, Züblin (a member of international STRABAG Group), Stucky, Colenco, and Maggia. The order value for Andritz VA TECH HYDRO is approximately 235 million Euros. The European scope of supply is insured by the export credit agencies of Austria, Germany, and Switzerland, as is customary with projects of this type.
The Turkish project operator, the Turkish government and the export credit agencies involved have agreed upon a series of comprehensive accompanying measures and requirements for environmental protection, social cushioning, preservation of the cultural heritage, and neighboring countries. Compliance will be monitored by an independent international commission implemented by the export credit agencies, thus the project meets the high western standards of OECD and the World Bank The web site which has been installed specifically for this project and which is permanently updated, www.ilisu-wasserkraftwerk.com, contains all project details including all requirements stipulated.
The Ilisu hydropower station - which is urgently needed in Turkey due to the country´s fast economic growth - will have an output of 1,200 MW and will supply two million households with electricity from environmentally friendly hydropower starting in 2014/2015. Compared to a thermal power station, this will help avoid about three million tons of carbon dioxide per year, or replace one or two nuclear power stations.
- End -
For further information please contact:
Kovar & Köppl Public Affairs Consulting Mag. Christian Thonke Phone: +43 1 5229220-17 christian.thonke@publicaffairs.cc
VA TECH HYDRO GmbH DI Alexander Schwab Market Management and Corporate Communication Phone: +43 1 89100-2659 Fax: +43 1 89 46 370 alexander.schwab@vatech-hydro.at
Andritz Group Dr. Michael Buchbauer Head of Corporate Communications Phone: +43 316 6902-2979 Fax: +43 316 6902 465 michael.buchbauer@andritz.com
Andritz VA TECH HYDRO, member of the Andritz Group, is a global
supplier of electromechanical systems and services ("water-to-wire")
for hydropower plants. The company is a leader in the world market
for hydraulic power generation and has a top position in the growing
power plant refurbishment segment.The Andritz Group Listed Andritz Group is a global market leader for advanced production systems for pulp and paper, steel and other specialized industries. Andritz has a staff of approximately 11,000 employees worldwide. It develops and makes its high-tech systems at 35 production sites in Austria, Germany, Finland, Denmark, France, Netherlands, USA, Canada and China.
end of announcement euro adhoc 16.08.2007 07:30:00
Further inquiry note:
Dr. Michael Buchbauer
Head of Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
Branche: Machine Manufacturing
ISIN: AT0000730007
WKN: 632305
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing