LYSAKER, NORWAY -- 11/10/09 --
Aker Solutions has been awarded a notice to
proceed by TransCanada Corporation (TransCanada) for the construction
of a 900 megawatt (MW) natural gas-fired combined cycle power plant
in Oakville, Ontario, Canada. Under a joint venture, Aker
Construction Canada Ltd, a subsidiary of Aker Solutions ASA, and HDR
Corporation will execute engineering, procurement and construction
(EPC) work on the project in cooperation with TransCanada. The
contract value to Aker Solutions is approximately CAD $400 million.
TransCanada will build, own and operate the 900 MW Oakville
Generating Station, having secured a 20-year Clean Energy supply
contract with the Ontario Power Authority (OPA). TransCanada expects
to invest approximately CAD $1.2 billion in the natural gas-fired
combined cycle power station. The project commences immediately and
is scheduled to start producing power by the end of 2013.
"We are very pleased with the confidence that TransCanada placed in
us with the award of this important project. The current progress
being made by our Aker Construction Canada Ltd on the nearby Halton
Hills Generating Station for TransCanada demonstrates our strong
execution capability," says Simen Lieungh, President & CEO of Aker
Solutions.
Aker Construction Canada Ltd will perform construction, construction
management and certain procurement for the project. The project is
expected to create approximately 600 construction jobs during the
anticipated construction period of approximately 28 months. HDR
Corporation will complete project design, procure engineered
equipment and provide technical assistance for construction and
startup.
This Generating Station is part of the OPA initiative to help meet
the critical energy and stability needs of the southwest greater
Toronto area. The station will provide reliability to support
Ontario's growing renewable energy electricity production from wind
and solar, whilst contributing towards replacing coal-fired power
generation.
TransCanada is a leader in the responsible development and reliable
operation of North American energy infrastructure including natural
gas pipelines, power generation, gas storage facilities, and projects
related to oil pipelines. TransCanada's network of wholly owned
pipelines extends more than 59,000 kilometres (36,500 miles), tapping
into virtually all major gas supply basins in North America.
TransCanada is one of the continent's largest providers of gas
storage and related services with approximately 370 billion cubic
feet of storage capacity. A growing independent power producer,
TransCanada owns, or has interests in, over 11,800 megawatts of power
generation in Canada and the United States.
HDR is an international employee-owned architectural, engineering and
consulting firm with more than 8,000 professionals in more than 185
locations worldwide. All of them are committed to helping clients
manage complex projects and make sound decisions. Learn more at
www.hdrinc.com.
The Aker Solutions contract party is Aker Construction Canada Ltd.
ENDS
For further information, please contact:
Media:
Jannik Lindbaek, SVP Corporate Communications, Aker Solutions. Tel:
+47 67 51 30 36, Mob: +47 977 55 622
Vanessa Mourant, VP Communications, Aker Solutions. Tel: +44 (0)20
8545 0270, Mobile: +44 (0)7771 806566
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67
51 30 39, Mob: +47 911 37 194
Suppliers:
For further information about sourcing and potential subcontracts for
this project, please contact BA Global Sourcing Champion, telephone
number found
here:
http://www.akersolutions.com/Internet/SuppliersCentre/Contacts/SupplyManage
mentContacts.htm.
Career opportunities:
Visit http://www.akersolutions.com/Internet/CareerCentre
Aker Solutions ASA, through its subsidiaries and affiliates
("Aker Solutions"), is a leading global provider of engineering and
construction services, technology products and integrated
solutions. Aker Solutions' business serves several industries,
including oil & gas, refining & chemicals, mining & metals
and power generation. The Aker Solutions group is organised in a
number of separate legal entities. Aker Solutions is used as the
common brand/trademark for most of these entities.
Aker Solutions' parent company is Aker Solutions ASA.
Aker Solutions has aggregated annual revenues of approximately NOK
58 billion and employs approximately 22 000 people in about 30
countries.
Aker Solutions is part of Aker (www.akerasa.com), a group of premier
companies with a focus on energy, maritime and marine resource
industries. The Aker companies share a common set of values
and a long tradition of industrial innovation. As an industrial owner
controlling 40.27 percent of the shares in Aker Solutions through
Aker Holding AS, Aker ASA takes an active role in the development
of Aker Solutions.
This press release may include forward-looking information or
statements and is subject to our disclaimer, see
www.akersolutions.com.
Aker Construction, Inc. and Aker Construction Canada Ltd. are the
union construction arm of Aker Solutions, and provide a full range of
construction, maintenance and renovation services to the North
American industrial sector. Our services are characterised by the
highest standards of safety, quality, teamwork, innovation and
cooperation, thus enabling us to respond to the needs of our
customers and deliver on-time and in-budget performance. Direct hire
union construction, maintenance and renovation services are provided
to the power, steel, chemical, petro-chemical, and other industrial
sectors in North America. In addition, Aker Construction provides
construction management and project planning services to the above
sectors on an international basis.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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