SRV to participate in Fennovoima’s nuclear power plant construction project as project manager and investor

SRV GROUP PLC     STOCK EXCHANGE RELEASE     5 AUGUST 2015 at 08.45

SRV to participate in Fennovoima’s nuclear power plant construction project as project manager and investor

SRV has decided to become a shareholder in the nuclear power plant to be built at Pyhäjoki. SRV has made a financing commitment to Fennovoima’s main owner Voimaosakeyhtiö SF. The financing commitment is equivalent to a 1.8% stake in the Fennovoima project.

As part of the agreement package, SRV has signed a project management agreement with Fennovoima’s plant supplier Rusatom Overseas and the main contractor Titan-2.

“The agreement now signed represents a significant increase in SRV’s operations and further strengthens our position as a pioneer of project management contracting in Finland. This is clearly a major agreement package in the company’s history,” says SRV President & CEO Juha Pekka Ojala.

SRV will operate in the project primarily as project manager, particularly with respect to Finnish partners, together with main contractor Titan-2. The deal requires final approval by Finnish Radiation and Nuclear Safety Authority.

“The project required the participation of a reliable Finnish partner familiar with local legislation and regulations. SRV has strong experience of project management and we have been well acquainted with Fennovoima’s nuclear power plant project for a long time now,” explains Ojala.

Further information:

Juha Pekka Ojala, President & CEO, tel. +358 40 733 4173
Ilkka Pitkänen, CFO, tel. +358 40 667 0906
Päivi Kauhanen, Vice President, Communications, tel. +358 50 598 9560

www.srv.fi