Washington Group International Awarded Nuclear Project Management Consulting Contract in China
14 Agosto 2007 - 12:00PM
PR Newswire (US)
BOISE, Idaho, and PRINCETON, N.J., Aug. 14 /PRNewswire-FirstCall/
-- Washington Group International (NYSE:WNG) announced today that
it has been selected by Nuclear Power Qinshan Joint Venture Co. LTD
(NPQJVC) to provide project management consulting services related
to NPQJVC's nuclear power activities in China. NPQJVC owns and
operates two commercial 650-megawatt pressurized water reactors in
Zhejiang Province, China. In addition, NPQJVC is constructing two
additional 650-megawatt units at the same site. "As China embraces
a nuclear future to satisfy the gap in its power-generating needs,
Washington Group International is committed to sharing the
expertise that we have retained through more than 40 years in the
commercial nuclear industry, complemented by our understanding of
current technology and efficient management techniques," said Lou
Pardi, president of Washington Group's Power Business Unit,
headquartered in Princeton, N.J. "We look forward to supporting
NPQJVC's efforts to evaluate and improve its nuclear activities."
With growing energy demands in the world, nuclear power is being
looked to as a key source of dependable, efficient, clean energy,
because it does not produce greenhouse gases that contribute to
global climate change. Washington Group will evaluate NPQJVC's
nuclear project management process and project execution
procedures. Working with NPQJVC, Washington Group specialists will
develop benchmarks and evaluate any areas that could further
improve project performance. In addition to work at sites in China,
Washington Group will also host an NPQJVC technical team in its
Princeton office and provide consulting and advisory services on a
variety of engineering and technical issues. NPQJVC was formed in
1996 to construct and manage power generation business with nuclear
technology. The joint venture shareholders include China National
Nuclear Corporation, Zhejiang Provincial Electric Power Company,
Shenneng (Groups) Company Ltd., Jiangsu International Trust and
Investment Corporation, China Power Investment Corporation, and
Anhui Energy Investment Corporation. Washington Group International
provides services addressing the full nuclear life cycle including
providing licensing, engineering, design, procurement,
construction, startup, maintenance and modification,
decommissioning, and waste storage services for nuclear power.
Washington Group has provided services to virtually every U.S.
nuclear power plant and is the engineer or constructor of record
for 49 nuclear units worldwide. Washington Group International
(NYSE:WNG) provides the talent, innovation, and proven performance
to deliver integrated engineering, construction, and management
solutions for businesses and governments worldwide. Headquartered
in Boise, Idaho, with more than $3 billion in annual revenue, the
company has approximately 25,000 people at work around the world
providing solutions in power, environmental management, defense,
oil and gas processing, mining, industrial facilities,
transportation, and water resources. For more information, visit
http://www.wgint.com/. This news release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, which are identified by the use of
forward-looking terminology such as may, will, could, should,
expect, anticipate, intend, plan, estimate, or continue or the
negative thereof or other variations thereof. Each forward-looking
statement, including, without limitation, any financial guidance,
speaks only as of the date on which it is made, and Washington
Group undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which it is made or to reflect the occurrence of anticipated or
unanticipated events or circumstances. The forward-looking
statements are necessarily based on assumptions and estimates of
management and are inherently subject to various risks and
uncertainties. Actual results may vary materially as a result of
changes or developments in social, economic, business, market,
legal, and regulatory circumstances or conditions, both
domestically and globally, as well as due to actions by customers,
clients, suppliers, business partners, or government bodies.
Performance is subject to numerous factors, including demand for
new power generation and for modification of existing power
facilities, public sector funding, demand for extractive resources,
capital spending plans of customers, and spending levels and
priorities of the U.S., state and other governments. Results may
also vary as a result of difficulties or delays experienced in the
execution of contracts or implementation of strategic initiatives.
For additional risks and uncertainties impacting the
forward-looking statements contained in this news release, please
see "Note Regarding Forward-Looking Information" and "Item 1A. Risk
Factors" in Washington Group's annual report on Form 10-K for
fiscal year 2006. DATASOURCE: Washington Group International
CONTACT: Jerry Holloway or Laurie Spiegelberg of Washington Group
International, +1-208-386-5255 Web site: http://www.wgint.com/
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