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YIT LANDS A LARGE MECHANICAL INSTALLATIO

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RELEASE     AUG. 20, 2004     15:15     1 (1)


YIT LANDS A LARGE MECHANICAL INSTALLATION CONTRACT IN FORTUM OIL OY’S DIESEL PROJECT

YIT has been selected as the contractor of the mechanical installation works on a production line as part of the Diesel project at Fortum Oil’s refinery in Porvoo. The agreed contract is one of the largest ever to be handled by YIT Industria, which offers capital investment services for industry.

The deliveries comprise the installation of the piping and equipment of the residual oil and hydrogen units that are part of the production line as well as a delivery of steel structures. YIT will also supply the earlier agreed underground process piping for the production line; their construction has already been started up. The scale of YIT’s works will be about 400 man work-years and there will be around 300 employees on the site. The entire delivery will be completed in early 2006.

The delivery includes about 200 km of process piping, the largest of which are about 1,200 mm in diameter, over 3,000 tonnes in steel structures and the installation of about 550 process equipment items. The largest equipment item to be installed weighs 360 tonnes. The thickness of the walls of the high-pressure pipes is up to 90 mm. The field’s latest technology, which is based on an automated narrow groove and hot wire technique, is used in their welding. YIT has developed this method in association with TEKES, the Lappeenranta University of Technology and VTT.

Fortum Oil’s Diesel project aims to modernize the Porvoo refinery and has a pricetag of about EUR 500 million. As part of the Diesel project, a new production line will be built for the refinery, including a new residual oil cracking unit and a hydrogen production unit. After the completion of the project, the refinery will be able to produce even more environmentally friendly vehicular fuels. YIT has previously been responsible for area development works in the project; these works began in October 2003.

YIT CORPORATION

 Veikko Myllyperkiö Vice President, Corporate Communications

For additional information, contact: Deputy Managing Director Jukka Pitkänen, YIT Industria Ltd, tel.
+358 20 433 3528, jukka.pitkanen@yit.fi Veikko Myllyperkiö, Vice President, Corporate Communications, tel.
+358 20 433 2297, veikko.myllyperkio@yit.fi

Distribution: Helsinki Exchanges, principal media, www.yit.fi

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