17th Oct 2005 15:17
AMEC PLC17 October 2005 17 October 2005 AMEC plc AMEC wins major nuclear services contract AMEC plc, the international project management and services company, has beenawarded a major contract, worth up to Cdn$510 million (£245 million), to managethe restart of two nuclear reactors at the Bruce A power station in Ontario,Canada. This follows the announcement today by Bruce Power, the Canadian nuclear powergenerator, that it will launch a Cdn$4.25 billion (£2 billion) investmentprogramme to secure the long-term future of its 3,000MW Bruce A nuclear powerstation. The transaction is expected to close in the next few weeks with workstarting immediately thereafter. "We expect to see a wave of investment as governments and companies worldwidestart to look afresh at nuclear power," said Sir Peter Mason, Chief Executive ofAMEC. "In winning this contract we have secured the first major new opportunityavailable in our home markets. We expect this to be just the start as we deliveron our strategy of securing high value services work across the nuclear sectorin the coming years, from project management of reactor refurbishment and newbuild programmes through operations and maintenance contracts to decommissioningand clean-up." The contract is the first major win for AMEC Nuclear, which was created in July2005 following the acquisition by AMEC of the UK's leading private sectornuclear services company, NNC Holdings Ltd. It was won on the back of AMEC'sexperience in the nuclear sector, its expertise in large scale project, contractand construction management and the reputation of its proprietary projectmanagement system Convero. Work is scheduled for completion in late 2009, after which the two reactors(Units 1 and 2), which will produce a combined total of 1,500MW of emission-freeelectricity, are expected to have a minimum lifespan of 25 years. Reactorssuited to similar life extension programmes are located in countries includingSouth Korea, Argentina and Romania. Contacts: AMEC plc +44 (0)20 7634 0000Neil Jamieson, Director of Investor RelationsJuliet Sychrava, Director of Corporate CommunicationsCharles Reynolds, Head of Media Relations AMEC Nuclear has been working with Bruce Power since May 2001 and providesengineering solutions and safety consultancy services throughout the life cycleof nuclear facilities in Canada, the UK and across the former Soviet Union. Bruce Power is Ontario's largest independent generator and a partnership amongTransCanada Corporation, BPC Generation Infrastructure Trust, CamecoCorporation, the Power Workers' Union and The Society of Energy Professionals. AMEC plc is an international project management and services company thatdesigns, delivers and supports infrastructure assets for customers worldwideacross the public and private sectors. AMEC employs 44,000 people in more than40 countries, generating annual revenue of around £5 billion. AMEC's shares aretraded on the London Stock Exchange where the company is listed in the SupportServices sector (LSE: AMEC.L). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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