This award follows the completion of USD 645,000 of preliminary engineering tasks in 2002. SCPPA has now completed the state licensing process and received financing, allowing full release of the project.
"Magnolia Power Project participants are very pleased to begin work with Aker Kvaerner staff to produce a reliable and highly efficient electricity resource for the Southern California cities of Anaheim, Burbank, Cerritos, Colton, Glendale and Pasadena," said Ron Davis, project director. "Aker Kvaerner's proven integral design and construction management abilities will help ensure that the Magnolia Power Project is available for energy delivery in time for the 2005 peak summer electrical use period."
Davis added, "Aker Kvaerner's highly respected power plant experience and construction expertise were key factors in our contractor selection process."
ENDS
For further information, please contact:
Aker Kvaerner Group, Oslo, Norway
Geir Arne Drangeid, Senior Vice President Group Communication, Kværner ASA Tel: +47 913 10 458Tore Langballe, Vice President Investor Relations, Kværner ASA Tel: +47 6751 3106
or
San Ramon, CA
Jason Cohen Tel: +1 (925) 244 6064, email: jason.cohen@akerkvaerner.com
NOTES TO EDITORS
Aker Kvaerner
is a leading global provider of engineering and construction services, technology products and integrated solutions. Group activities span a number of industries, including Oil and Gas upstream and downstream, Process, Pharmaceuticals, Metals, Power, Chemical Pulping, Environmental and Shipbuilding. Aker Kvaerner is a multi-local group of businesses with nearly USD 6 billion of annual revenues and around 33,000 employees in more than 30 countries.