15IO Euro.bk. 36

RNS Number:9781F
Kvaerner PLC
27 June 2001


Kvaerner to manage US$40 million fast-track power project in Brazil

LONDON, 27 JUNE 2001: Kvaerner the Anglo-Norwegian engineering and
construction Group today announced that it has been awarded a US$40 million
engineering, procurement, and construction management contract for the
installation of cycle gas turbines at a power plant, located near Rio de
Janeiro, Brazil.

Keith Henry, CEO, Kvaerner E&C, commented: "Kvaerner has in-depth knowledge of
the local contracting community, with the ability to tap into global
resources. Coupled with our proven technical expertise in this sector, we are
well-placed to help accelerate power construction in Brazil."

Kvaerner is responsible for completing the detailed engineering, procurement,
and management of the installation of the gas turbines, which will be
undertaken by local Brazilian subcontractors.   When completed, the plant will
provide total power output of 700 MW.  Fast-track design and construction,
through a phased approach, will enable the first power block (consisting of
four turbo-generators) to be connected to a 345 Kv national power grid by the
end of the summer 2001. 

The contract award follows the successful completion of basic engineering and
preliminary procurement services, provided by Kvaerner, in April, 2001.  The
new facilities will be designed to meet World Bank environmental guidelines,
as well as Brazilian regulations.

In North America, Kvaerner is currently building a further three power plants
with a total capacity of nearly 2000 MW.


For further information:

Paul Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20
7339 1035 or +44 (0)7768 813090 or paul.emberley@kvaerner.com or Vanessa
Mourant, Kvaerner E&C London: +44 (0)20 7957 3290 or
vanessa.mourant@kvaerner.com or Melody Litteral, Kvaerner E&C Houston: +1
(713) 988 2002 or melody.litteral@kvaerner.com

Note to editors:
Kvaerner is a world-class Anglo-Norwegian engineering and construction Group. 
It meets the needs of its customers by adding value to their business -
through the provision of innovative, cost-effective solutions - for challenges
in the hydrocarbons, process and metals industries.  The Group's activities
are currently organised in two core business areas: E&C (Engineering and
Construction), and Oil & Gas.  Kvaerner is a Norwegian registered business,
but has a London, UK-based international headquarters.  The Group has annual
revenues in excess of US$6 billion, with some 35,000 permanent staff located
in almost 35 countries throughout Europe, Asia and the Americas.

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