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WorleyParsons(WOR) is pleased to announce that it 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 our office in Cairo. Sofia serves as one of WorleyParsons’ nuclear power centres of excellence with nuclear consultancy and engineering services currently being provided to projects across a number of countries in Europe, the Former Soviet Union and Africa. Egypt is a pioneer in electricity generation within the region with an installed capacity of over 24,000MW. This award is a major milestone in the development of nuclear power generation in Egypt and WorleyParsons is very proud to be associated with the NPPA in this exciting project.

WorleyParsons CEO, John Grill commented “We are absolutely delighted to be awarded this contract by the NPPA. WorleyParsons has been working in the Egyptian power sector for over twenty-five years and this contract reaffirms our commitment to the country. It also demonstrates our leading position in the global nuclear new build arena.”

WorleyParsons is also pleased to announce that it has 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 500,000. 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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