STOCK EXCHANGE RELEASE 13 Oct 1999
JAAKKO PÖYRY GROUP AWARDED A HIGH SPEED RAILWAY PROJECT IN TAIWAN
Taiwan High Speed Rail Corporation (THSRC), has appointed
Electrowatt Engineering Ltd. (EWE), a Jaakko Pöyry Group company and a member of IREG - International Railway Engineering Group,
as the Independent Checking Engineer/Independent Site Engineer
(ICE/ISE) for the Taiwan High Speed Rail project. IREG is a joint
venture between UK consultant Mott MacDonald, Electrowatt
Engineering of Switzerland, DE-Consult of Germany and French
consultant SYSTRA. Electrowatt Engineering's share of the
contract (first 2 years) amounts to approx. EUR 5.4 million. The
new railway will be brought into service in 2005.
The project comprises a new high speed rail link between Taipei
and Kaohsiung - over 345 km long, including over 300 km of
viaducts and tunnels. The design speed is set at 350 km/h in
order to achieve a journey time of 90 min. The railway project is
designed with a view to the serious earthquake problems in
Taiwan. There will be earthquake specialists on IREG's team to
review the design in this respect.
This EUR 15.4 billion project is currently one of the most
challenging BOT transport projects in the world. THSRC is a joint
venture of major Taiwanese industrial and financial companies.
The project is financed partly by THSRC, local and overseas
private investment and loan financing. The recent earthquake in
Taiwan has no long term impact on the project because of the size
and importance of the investment.
The contract value of EUR 21.6 million covers a 2-year period
with the option for continuing until the new railway is brought
into service in 2005. Electrowatt Engineering Ltd has a 25 %
share in the contract (EUR 5.4 million) and also serves as
Financial Co-ordinator of the joint venture.
Electrowatt Engineering Ltd is already strongly involved in the
build-up of the high speed rail network in Germany and has also
contributed to high speed rail projects in Switzerland, Italy and
JAAKKO PÖYRY GROUP OYJ
Additional information by:
Mr. Johann Schmieder, Head Infrastructure Division, Electrowatt
tel: +49 7621 930 00, +49 1727 666 126
Stockholm Stock Exchanges