WorleyParsons wins two nuclear development contracts in Middle East

24 June 2009

WorleyParsons has signed a contract with the Egyptian Nuclear Power Plant Authority (NPPA) for a consultancy services contract to support the delivery of the first Egyptian Nuclear Power Plant. The contract commences with site and technology selection studies and carries through to design, construction management, commissioning and start-up. The revenue to WorleyParsons is expected to be approximately EGP 900 million (USD 160 million) over the expected 8 years of the project. Execution will be led from WorleyParsons’ office in Sofia, Bulgaria and supported locally by its Cairo office.

WorleyParsons has also signed a contract with the Ministry of Energy and Natural Resources of the Republic of Armenia to provide consulting services for a new nuclear power plant project in Armenia. The scope of the contract will be implemented in four phases, with the first two phases scheduled to begin in 2009. The major scope to be implemented during these first two phases includes development of a bankable feasibility study for the project and then managing and assessing the tender process for strategic investors for the project. The duration of these two phases is expected to be one year. This contract will be managed by WorleyParsons’ office in Sofia, Bulgaria. Phases III and IV of the project, the scope of which is to organise and manage a tender and recommend EPC contractors for selection, and then to provide consulting services to the Ministry during the design, construction, and start-up of the project, will be authorised after selection of and commitment by the strategic investors. The expected revenue to WorleyParsons from phases I and II is USD five hundred thousand. Phases III and IV, which are subject to a successful bankable feasibility study and selection of strategic investors, is expected to provide revenue to WorleyParsons in excess of USD 430 million, excluding escalation.

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