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PRESS RELEASE 25 Nov 2014

Pöyry awarded EPC Open Book assignment for the PEDC Coal Handling System, Philippines

PÖYRY PLC   Press Release 25 November 2014 at 10 am (EET)

Pöyry awarded EPC Open Book assignment for the PEDC Coal Handling System, Philippines

Panay Energy Development Corporation (PEDC), a subsidiary of Global Business Power Corporation, has awarded Pöyry with the Engineering, Procurement and Construction (EPC), on an Open Book basis, of the Coal Handling System for the 150 MW PEDC power plant extension project.

The assignment includes an extension of the existing jetty by 65 metres, the coal conveying system with a capacity of 900 tons per hour from the jetty to the coal storage, the covered coal storage yard with a capacity to store 85,000 tons of coal, the coal conveying system with a capacity of 2 x 300 tons per hour from the coal storage yard to the coal crusher building and associated works such as piling and civil works, fire fighting system, lighting, utilities. Construction starts in November 2014 and is due to be completed by early February 2016.

The Coal Handling System is part of the 150 MW clean coal technology power plant extension project for which construction started in January 2014 and which is located in Iloilo City, Panay Island, Philippines. Panay island is part of the Visayas, the group of islands situated south of the main island of Luzon. The state-of-the art power plant extension complements the existing 2 x 82 MW clean coal technology units which became operational in 2011 and will supply power to consumers on Panay island and into the Visayas power grid.

"The PEDC 3 extension project is of strategic importance to PEDC and will supply power to the Visayas and contribute to the development of the region. In an effort to lower costs of power, PEDC agreed to execute a project on an EPC Open Book basis for the first time", says Jimmy Azurin, Executive Vice President of Global Business Power Corporation.

"Pöyry's EPC Open Book system methodology is a transparent approach, coupled with a sharing mechanism of any savings from the ceiling price. The partnership this creates is the perfect approach for both the client and Pöyry for this type of project. This assignment further expands Pöyry's position in the Philippines power market where Pöyry is involved, in different roles, in more than 60% of the on-going power projects", says Richard Pinnock, Pöyry's Executive Vice President Global Sales and Project Management.

The value of the order is undisclosed. The order will be recognised within the Energy Business Group order stock in Q4/2014.

Additional information by:

Dominic Gemperle
Director, Thermal Power - Philippines, Energy Business Group
Tel. +63 91 88192648 

Peter Heinzelmann
Senior Vice President, Large Projects, Global Sales and Project Management, Switzerland
Tel. +41 76 3562036

Richard Pinnock
Executive Vice President, Global Sales and Project Management, Switzerland
Tel. +41 76 3562410

Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and locally in our core markets. We deliver strategic advisory and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2013 were EUR 650 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).