OUTOTEC OYJ STOCK EXCHANGE RELEASE, JUNE 25, 2007 AT 10.00 AM
Outotec has agreed with The Saudi Arabian Mining Company (Ma'aden) on the delivery of the world's largest sulfuric acid plant project at Ras Az Zawr, Kingdom of Saudi Arabia. This contract follows the first phase engineering agreed by the companies in May 2006 and it covers the delivery of three sulfuric acid plants.
The total investment of the sulfuric acid plant project is approximately EUR 370 million, of which the off-shore contract to Outotec amounts to approximately EUR 270 million. Outotec has selected a construction company to carry out the local portion of the project under a separate contract.
This project will be the largest sulfuric acid production facility ever built in the world. The three plants will have a total production capacity of 13,500 tonnes per day of sulfuric acid. Ma'aden will use the whole acid production for its manufacture of phosphate-based fertilizer. The plants are expected to be operational in 2010.
"This significant mega-size project further confirms our market leadership in sulfuric acid technologies. We have been a major designer and supplier of sulfuric acid plants through Lurgi Metallurgie - the company we bought in 2001 - for more than 80 years, with a track record of over 600 plants installed worldwide. This contract is also a proof of our capabilities in implementation and management of large industrial projects. Furthermore, this shows Middle East's growing importance in large chemical and metallurgical plant investments due to the availability of competitive energy and robust financial structures", says Tapani Järvinen, President and CEO of Outotec.
For further information please contact:
Tapani Järvinen, President and CEO
Tel. +358 20 529 2000
Eila Paatela, Vice President - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198
Peter Weber, President - Metals Processing division
Tel. + 49 6171 9693 165
Helsinki Stock Exchange