STOCK EXCHANGE RELEASE 5 Oct 1999
JAAKKO PÖYRY GROUP AWARDED A RAILWAY MODERNISATION PROJECT IN BUENOS AIRES
Electrowatt Engineering Ltd (EWE), a Jaakko Pöyry Group company,
has been awarded a modernisation project of Argentina's first
underground railway line. All the line equipment, the permanent
way and the stations are being modernised in the context of the
Buenos Aires Urban Transport Project financed by the World Bank.
The modernisation work is scheduled to take two years. The value
of the deal is approx. EUR 1.3 million.
Argentina's first underground railway line which is also the
first and thus the oldest in the southern hemisphere in Latin
America, was built in Buenos Aires in the years 1911-1913. It has
a total length of some 7 km and serves 14 stations in all. Since
the main line came into service in 1913 it has been operated
essentially with the original infrastructure and the original
Electrowatt Engineering (EWE) has been appointed together with
two local firms to supervise construction and oversee project
management of the modernisation work. The total value of the
contract is approx. EUR 3.8 million, of which EWE's share amounts
to approx. EUR 1.3 million.
In addition to this interesting and challenging project, EWE is
currently involved in other transportation projects in Valencia
and Maracaibo (both in Venezuela), Mexico City and in Bangkok.
JAAKKO PÖYRY GROUP OYJ
For further information please contact:
Mr. Gerhard Schmitz, Head of Transportation Department Latin
America, Electrowatt Engineering Ltd. Zurich/Switzerland
Tel. +41 1 385 21 46
Stockholm Stock Exchange