PRESS RELEASE 10 Sep 2002
JAAKKO PÖYRY GROUP AWARDED EUR 3 MILLION HYDROPOWER ENGINEERING AND ASSISTANCE CONTRACT IN TAJIKISTAN
Electrowatt-Ekono AG of Switzerland, which is part of the Jaakko Pöyry Group's Energy business group, has been awarded an engineering contract by Pamir Energy Company for the completion and rehabilitation of several hydropower schemes in Tajikistan. A related contract covers management and technical assistance for the institutional strengthening of the client's operations. The project will be completed in 2006. The total value of the two contracts is EUR 3 million.
The engineering contract includes engineering and construction supervision for the completion of the Pamir I hydroelectric facility and for the rehabilitation of other hydropower plants and related power transmission lines in Tajikistan. The management and technical assistance contract includes various planning and advisory services for the strengthening of the organisational development, financial planning, controlling and other management systems of Pamir Energy Company.
The project is financed by several international financial institutions including International Development Association/World Bank as well as the Aga Khan Fund for Economic Development.
One of the major focuses of Electrowatt-Ekono's hydropower business is to rehabilitate aging hydropower plants in order to extend their lifetime, to increase profitability and to improve their safety. The projects in Tajikistan are a good example of this goal.
The Energy business group, operating under the brand name Electrowatt-Ekono, had net sales of EUR 127 million in 2001. Electrowatt-Ekono has offices in 20 countries and employs 1200 experts wordwide.
JAAKKO PÖYRY GROUP OYJ
Additional information by:
Jukka Nyrölä, CEO, Electrowatt-Ekono, Zurich/Switzerland
Tel. +41 76 356 2451
Roland-Pierre Schmidiger, Head of Business Area Hydro, Electrowatt-Ekono AG
Tel. + 41 76 356 2317