Aggreko Signs 100 MW Power, Fuel Supply Pact In Tanzania Worth $37 Million
June 22 2011 - 2:39AM
Dow Jones News
Aggreko PLC (AGK.LN), a provider of temporary power and
temperature control services, said Wednesday it has signed a
contract with the Tanzania Electric Supply Company, or TANESCO, to
supply 100 MW of emergency power for twelve months worth $37
million.
MAIN FACTS:
-Contract involves providing two 50 MW diesel-powered plants at
Ubungo and Tegeta, as well as managing the fuel supply associated
with the power generation.
-Value of the fuel contract will depend on the monthly price of
diesel, and the amount of power generated; Aggreko will charge a
small fee for managing the fuel supply.
-Contract will become effective following the completion of a
number of conditions precedent, including the delivery of bonds and
guarantees customary for a contract of this type.
-Contract will take Aggreko's order intake in the first six
months of 2011 to at least 630MW.
-Shares closed Tuesday at 1875 pence valuing the company at
GBP5.15 billion.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296;
ian.walker@dowjones.com
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