15IO Euro.bk. 36

RNS Number:2649Y
Kvaerner PLC
2 February 2001

Kvaerner wins US$75 million contract for SASOL chemicals project in South
Africa 

LONDON, 2 FEBRUARY 2001: Kvaerner, the Anglo-Norwegian engineering and
construction Group, today announced that it has signed an agreement with SASOL
Technology to build a 120,000 tonnes per annum Detergent Alcohols Plant at
SASOL's Secunda site, near Johannesburg, in South Africa.  The project, for
lump sum engineering, procurement and construction, has a total contract value
to Kvaerner of US$75 million. 
Kvaerner has formed an Alliance with Krupp Uhde South Africa to execute the
project, and the two companies have already been successfully working together
on the engineering design phase.  The basic technology for the project has
been licensed from Kvaerner Process Technology, together with SASOL, whose
portion of the technology was developed in association with Krupp Uhde. 
Malcolm Stewart, Managing Director of Kvaerner E&C's Process business in the
UK, said: "A project of this nature is a major undertaking and a successful
alliance between Krupp Uhde and ourselves is key.  The sheer strength of
Kvaerner's global resource network comes fully into play on this project for
SASOL." 
The joint project management team, which is being led by Kvaerner, is located
at the Sunninghill offices of Krupp Uhde in Johannesburg.  Detailed design
work is also underway at the Indian design offices of Kvaerner and Krupp Uhde,
where a 3-D electronic model of the entire complex is being constructed.  Most
major equipment items have been placed on order, both in South Africa as well
as overseas.  Inspection and expediting of these orders is being controlled
primarily from the Krupp Uhde offices in Johannesburg, using the combined
resources of both the Kvaerner and Krupp Uhde worldwide operations.  All
parties are now driving towards a 'ready for commissioning' date of March
2002.
Manfred Gunther, Managing Director of Krupp Uhde said: "The local presence of
Krupp Uhde provides the synergies for the alliance to complete the project on
time and in particular to provide local services such as Construction
Management.  Piling on site is complete and the civil construction work is
underway."

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, Communications Manager, Kvaerner E&C: +44 (0)20 7957 3290 or  +44
(0)7771 806566 vanessa.mourant@kvaerner.com or visit the web-site at
www.kvaerner.com



Notes to editors:
1. Kvaerner is a world-class Anglo-Norwegian engineering and construction
group with the capability and resources to undertake the world's most
challenging projects.  Today's Kvaerner is an industrial technology provider. 
It meets the needs of its customers by adding value to their business -
through the provision of innovative, cost-effective solutions to engineering,
contracting and construction challenges.  The Group's activities are organised
in two core business areas: E&C (Engineering and Construction), and Oil & Gas.
 Other current activities, which include shipbuilding and pulping equipment,
are to be sold. Kvaerner is a Norwegian registered business, but has a London,
UK-based international headquarters. The Group has annual revenues of
approximately US$7 billion, with some 35,000 permanent staff located in almost
35 countries throughout Europe, Asia and the Americas.
2 The E&C business area of Kvaerner specialises in the provision of process
technology, design, engineering, project management, procurement and
construction to a number of industrial sectors on a worldwide basis: chemicals
and polymers, pharmaceuticals, oil and gas, water, energy, nuclear, minerals,
mining, steel and transportation.  Kvaerner's breadth of capability is unique
among its competitors.  It offers the complete range of services that are
necessary to realise global projects from conception to start-up.  These
services include a portfolio of advanced process technologies, research and
development, test work, a full range of engineering studies (including
bankable feasibility and environmental studies), total project management,
engineering and design, procurement, construction and maintenance services. 
Kvaerner E&C employs more than 9,000 people operating from over 30 offices
worldwide.  This global reach enables Kvaerner to tailor its services and
resources to suit individual client needs and market conditions to provide
cost-effective technical solutions.
3 Sasol, established in 1950, is a world-leader in the commercial production
of liquid fuels and chemicals from coal and crude oil.  The company reported a
turnover of R25,7-billion (Euro 4,0-billion) in financial year 2000, up 34% on
the previous year and is listed on the Johannesburg Stock Exchange (SOL) with
a market capitalisation of R34,7-billion (Euro 724-million) and on NASDAQ
(SASOY) in New York.  For the 2000 financial year, Sasol Limited reported an
operating profit of R6,4-billion (Euro 1,0-billion), up 73% on the previous
year, and attributable earnings of R4,0-billion (Euro 630-million), up 61%.  
Visit the company's web-site at www.sasol.com

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