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Business briefs and new business

Business briefs and new business

Enron Corp. has announced financial close on the (US)$1.35 billion Saras refinery 551 MW combined-cycle power project in Italy. The facility is expected to be completed in late 1999 with electricity to be sold to Ente Nazionale per l`Energia Elettrica S.p.A., the Italian state-owned utility under a 20-year power purchase agreement.

The Latvian Privatization Agency is working to privatize Latvenergo with plans to complete a final audit this year. Offers have been invited and an assortment of firms have expressed interest.

MDX Power Company Ltd. plans to complete its (US)$280 million hydro-power plant in Laos by March 1998. The plant is a joint venture between MDX, Electricite de Laos and Nordic Hydro-power AB and is sited on the Nam Hinboum River. Most of the power generated by the facility will be sold to the Electricity Generating Authority of Thailand under a 25-year agreement.

Spain took a step toward competition in its electric market as 1996 drew to a close with the government and major electricity companies signing a new electricity protocol. One smaller electricity firm did not sign. The protocol stipulates the framework for liberalization of the market with a stated goal of opening it to foreign firms in 1998.

Foster Wheeler Energia Oy has been awarded a (US)$23 million contract by Moravskoslezske Teplarny a.s., a Czech Republic power company, to supply a compact CFB boiler to the company`s Olomouc power plant.

Ogden Energy Inc. has announced completion of its acquisition of ownership interests in two independent power projects in Bataan Province and Mindoro Island, Republic of the Philippines. The Bataan Province facility is a nine-engine, 58 MW diesel-fired plant and the Mindoro Island site is a 7 MW diesel-fired facility with a 6 MW addition under development.

GEA Thermal-Dynamic Towers has opened a branch office in Taipei, Taiwan.

Fluor Daniel India Pvt. Ltd. has announced a memorandum of understanding with Tata Technodyne Ltd. to jointly undertake engineering, procurement and construction work in core industrial sectors, including power.

P.T. East Java Power Corp. has signed a power purchase agreement for a 500 MW power plant in East Java, Indonesia.

IVO Group and Stockholm Energi have signed a contract to establish Birka Kraft Aktiebolag, a common company for the Swedish energy market. Birka Kraft will produce and distribute electricity and carry out contracting of electrical installations.

Siemens is celebrating its 150th birthday in 1997.

The 1,000 MW power station at Barking in London, constructed by GEC Alsthom, has been awarded a High Commendation certificate by the British Construction Industry.

GE Power Systems and Toshiba Corp. have teamed up to pursue projects in the integrated gasification combined-cycle market.

Huaneng Group has announced plans to build a (US)$3.6 billion power plant at Fugu in Shaanxi province of China. The plant is to be built in three stages but no construction schedule has been released.

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