posted on 28/08/2007: 1964 views
Alstom, the world's third biggest builder of power stations, said it has won a contract valued at one billion Euros (Dh5bn) to provide gas turbines for a power plant in the UAE. The company said it also won an order valued at 850 million Euros (Dh4.25bn) from RWE to build and maintain a power plant at Staythorpe, England.
In the UAE, Alstom won the contract for a 2,000-megawatt power station in Fujairah.
Both plants will use the GT26 heavy-duty gas turbine, one of the world's largest. Flaws in the original design dragged Alstom close to collapse in 2003. With the problems fixed, it is planning to expand headcount by 10 per cent this year to meet demand for new power stations and transportation equipment.
"The RWE contract demonstrates the merits of our strategy to offer integrated and optimised power plants to the United Kingdom, one of the most deregulated and competitive power markets in the world,” Chief Executive Officer Patrick Krohn said.
The Staythorpe plant will help RWE's goal of reducing carbon emissions, said Andrew Duff, chief executive officer of RWE npower, the German company's UK unit. Alstom rose 3.68 Euros (Dh18.43), or 2.85 per cent, to 132.89 Euros (Dh665.62) on the Paris stock exchange and traded at 131.66 Euros (Dh659.47) yesterday. It has gained 28 per cent this year, giving it a market value of 18.3bn Euros (Dh91.66bn).
The UAE plant will be run by International Power, Marubeni Corporation and the Abu Dhabi Water and Electricity Authority. The power station will be combined with a desalinisation plant built by Sidem. The contract will be booked in the second half of the fiscal year. (Bloomberg)
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