15th Nov 2006 07:02
Cape PLC15 November 2006 Cape PLC ("Cape" or the "Company") Contract Awards - Saudi Arabia Cape PLC (AIM:CIU), the international provider of support services for the energy sector, which operates in Saudi Arabia through its subsidiary RB Hilton Saudi Arabia Limited ("RBHSA"), is pleased to announce a number of significant contract awards with a combined value of US$19.1 million. Petro-Rabigh Fluid Catalyst and Ethane Cracking Plant RBHSA has been awarded a contract to provide refractory and scaffolding servicesto JAL, the Saudi Arabian operating company for JGC of Japan. The plant, to bebuilt by JAL, is part of the US$8.4 billion Petro-Rabigh project, a consortiumformed by the Saudi Arabian National Oil Company ('Aramco') and SumitomoCorporation of Japan. The contract will commence in December 2006. Khursaniyah Gas Plant RBHSA has also been awarded a contract to provide refractory and scaffoldingservices to the Bechtel/Technip joint venture at Aramco's US$3 billionKursaniyah gas plant 60kms north of the 'First Industrial City' of Al Jubail.The contract will commence in January 2007. Juaymah Gas Production Plant RBHSA is delighted to continue its long-standing working relationship withMohammed Al Mojil, a leading civil and mechanical construction company in theKingdom of Saudi Arabia, having been awarded a contract to provide its thermalinsulation and scaffolding services as part of the expansion of Aramco's Juaymahgas plant. The contract will commence in February 2007. Sharq III Ethylene Plant RBHSA has been awarded a contract by the leading Korean construction companySamsung Engineering to provide thermal insulation and scaffolding services forits Ethylene Glycol Plant. This is the first occasion for RBHSA to work withSamsung and Cape is extremely pleased to add their name to its list of valued,blue-chip clients. The contract will commence in December 2006. Cape's Chief Executive, Martin May said: "These contract awards from leading EPCand mechanical companies are extremely pleasing. They demonstrate that our SaudiArabian operation is at the leading edge of the significant industrial expansiontaking place in the Kingdom, and is participating in projects for both the Kingdom's national oil company, Aramco, and its national petrochemical company, Sabic. These contracts, which are expected to be earnings enhancing from their commencement, will provide a strong platform upon which RBHSA can grow its business exponentially over the next two to three years". ENDS For further information, please contact: Cape PLCMartin May, Chief Executive +44 (0)1924 876 276 Bell Pottinger Corporate & FinancialNick Lambert +44 (0)20 7861 3232 / +44 (0)7811 358 764 Notes to editors Cape PLC is the parent company of a number of service providing organizationsoperating primarily in the oil and gas, petrochemical and power generationindustries. In the year to 31 December 2005, Cape reported turnover of £261.8 million and itcurrently employs c. 7,700 people in 23 countries worldwide. Cape specialises in the provision of scaffolding, insulation, fire protection,specialist cleaning and other essential services to major industrial clients inthe energy sector. Cape's ability to provide specialist cleaning services wasenhanced by the acquisition of DBI Group Limited in October 2006. In the UK, Cape operates as Cape Hire, Cape Security, DBI Industrial Servicesand DBI Offshore Services. Cape also operates in Bahrain and Saudi Arabia underthe name RB Hilton. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CIU.L