Jaakko Pöyry Group awarded EUR 6.1 million assignment for the construction of a hydropower plant in Bulgaria

6/8/2004, 1:31 PM (Source: GlobeNewswire)

Verbundplan (Austria) GmbH., which is part of the Jaakko Pöyry
Group's Energy business group, has been awarded engineering and
project management contracts by Natsionalna Elektricheska Kompania
plc. (NEK), Bulgaria for the 80 MW hydropower plant Tsankov Kamak,
located in the cascade of the Vacha river, 250 km southeast of Sofia.
The total value of the contracts is EUR 6.1 million, and the project
implementation time will be 42 months, until end of 2007.

The new Tsankov Kamak contract involves the construction of an arch
dam and an 80 MW hydropower plant, rehabilitation works on the
existing cascade and the integration of all works to improve the
utilisation and water management of the other cascade hydropower
stations.

This project is partly financed as the first bilateral Joint
Implementation Project between Austria and Bulgaria, supported
through the utilisation of the flexible mechanisms of the Kyoto
Protocol. Verbundplan has also assisted in arranging the project
financing.

Verbundplan was recently acquired by Jaakko Pöyry Group Oyj and is
Austria's leading engineering and consulting company in the energy,
infrastructure and environment sector. The Energy business group,
operating under the brand name Electrowatt-Ekono, had net sales of
EUR 98 million in 2003. Electrowatt-Ekono has offices in 23
countries and employs 1300 experts worldwide.

JAAKKO PÖYRY GROUP OYJ

Erkki Pehu-Lehtonen
President and CEO

Teuvo Salminen
Deputy to President and CEO
Additional information by:
Richard Pinnock, President and CEO, Electrowatt-Ekono, Zurich,
Switzerland
Tel. +41 76 356 2410
Günter Moraw, Managing Director, Verbundplan, Vienna, Austria
Tel. +43 153 1135 4701
Thomas Kriesch, Head Energy Division, Verbundplan, Saltzburg, Austria
Tel. +43 1 536 052 2585

www.poyry.com

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