Aker Kvaerner awarded contract for Toromocho Copper Project in Peru

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17 January 2008 - Peru Copper Syndicate has awarded Aker Kvaerner Metals, Inc. ("Aker Kvaerner") a USD 11.5 million contract for the provision of technical services for basic engineering and additional testwork for the Toromocho Project.  The duration of this work is anticipated to be 8 to 10 months.  The Toromocho Project is a large copper-molybdenum open-pit mine, located east of Lima, Peru.  The plant capacity is 117,000 t/d.
 
The proposed Aker Kvaerner team will be comprised of personnel from Tucson, Arizona USA, Toronto, Canada and Santiago, Chile offices. These teams worked on the Definitive Feasibility Study, which has been recently completed. The engineering, procurement and construction management services are expected to run for a duration of 48 months.


David Lawson, President, Aker Kvaerner Metals, headquartered in Santiago, Chile says "This is a key strategic project for our expansion into Peru."  "This project is another example of what we can achieve with the competence of a globally integrated project team," said Jim Miller, President and USA Country Manager, Aker Kvaerner E&C US Inc. headquartered in Houston, Texas, USA.


ENDS

 
For further information, please contact:
Media:
Guy Carraux, Vice President, Aker Kvaerner Metals, Inc., Tucson, Arizona USA
Tel: +1 520 917 5479, Mob: +1 520 609 8925

Lola Kolbach, Communications Manager, Aker Kvaerner Metals, Santiago, Chile
Tel: +56 2 336 3520

Jannik Lindbæk Jr.
, SVP Corporate Communications, Aker Kvaerner. Tel: +47 67 51 30 36,
Mob: +47 977 55 622

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39


Suppliers:
For further information about sourcing and potential subcontracts for this project, please contact Rodger Liang, Global Sourcing Champion, Process & Construction - telephone: +86 10 640 966 36.

Career opportunities:
Visit http://www.akerkvaerner.com/Internet/CareerCentre


AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. The Aker Kvaerner group is organised in a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.


The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 50 billion and employs approximately 24 000 people in about 30 countries.


Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. As an industrial owner with a 40.27 percent holding in Aker Kvaerner, Aker ASA takes an active role in the development of its holdings.


Process & Construction
 Aker Kvaerner's Process and Construction business area is a world leader in the project management, design and construction of major projects spanning refining, petrochemical processing, metals and mining, power generation, and acid plants.  From initial concept through technology development, process technology application, design, procurement, construction, maintenance, modification and decommissioning, we provide our customers with the full life cycle of services.  Process and Construction provides sound local expertise, combined with the depth and strength of global project operations.


Aker Kvaerner Metals
 Aker Kvaerner Metals provides design, engineering, procurement, construction and project management services for mining and metals processing facilities on every continent.   With its Metals Headquarters based in Santiago, Chile, and other metals offices located in Toronto, Canada; Tucson, Arizona, U.S.A.; combined with regional metals capabilities in Perth, Brisbane, and Melbourne, Australia; Mumbai, India and Stockton-on-Tees, U.K,  Aker Kvaerner provides global capability to serve its clients across the full project cycle from studies through to design engineering, procurement, construction, commissioning and startup.  Specialized expertise spans: Precious Metals, Nickel, Copper, Molybdenum, Iron Ore, Zinc, Uranium, Evaporites and Industrial Minerals.


This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com

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