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PRESS RELEASE 23 Jan 2012

Pöyry awarded Owner's Engineering Services Contract for the Shoaiba II Power Plant in the Kingdom of Saudi Arabia

PÖYRY PLC          Press release 23 January 2012

Pöyry's Energy business group has been awarded an Owner's Engineering Services contract by the Saudi Electric Company for the Shoaiba II Power Plant. Pöyry's assignment includes assisting the client in reviewing the EPC contractor's detail design, the inspection and witnessing of factory acceptance tests and site supervision of the contractor's work in the project. The total value of Pöyry's assignments amounts to about EUR 25 million over the next 3.5 years. The order value has been booked into the first quarter 2012 order stock.

The project requires the installation of approximately 1200 MW power generating capacity via a combined cycle power plant in the Kingdom of Saudi Arabia. The power plant is configured as two 600 MW combined cycle gas turbine (CCGT) blocks. The project site is located approximately 100 km south of Jeddah at the Red Sea. 

With its modern and highly efficient power generation equipment, the Shoaiba II project will provide much needed power for the development of the local industrial and domestic sectors. 

PÖYRY PLC 

Additional information:
Angel Rodero, President, Business Area Southern Europe, MEA & Latin America, Energy Business Group
Tel. +34 607 971 737
Ari Asikainen, President, Energy Business Group
Tel. +358 10 33 24476 

Pöyry is a global consulting and engineering company dedicated to balanced sustainability and responsible business. With quality and integrity at our core, we deliver best-in-class management consulting, total solutions, and design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7,000 experts and a local office network in about 50 countries. Pöyry's net sales in 2010 were EUR 682 million and the company's shares are quoted on NASDAQ OMX Helsinki. (Pöyry PLC: POY1V) 

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www.poyry.com