ABB LIMITED
14 September 1999
ABB wins US$ 112-million order for China's Three Gorges project
Zurich, Switzerland, September 14, 1999 - ABB, the global technology and
engineering company, has been awarded a contract to deliver advanced
high-voltage switchgear for the Three Gorges hydro power station in China. The
US$ 112-million contract - the third order ABB has won for this major power
infrastructure project - was awarded by the China Yangtze Three Gorges Project
Development Corporation. Construction is scheduled to begin in the year 2001
and to be completed in 2004.
Under the terms of the contract, ABB will deliver 500-kilovolt gas-insulated
switchgear (GIS) for an electrical substation located at the dam site. The
GIS design allows the substation to be significantly smaller than conventional
installations, while its high reliability and efficiency will help increase the
power available from the Three Gorges hydro plant.
ABB will share technology with two Chinese partners. About 25 percent of the
equipment will be produced in China in cooperation with Shenyang High voltage
Switchgear and Xian High Voltage Switchgear.
The order is ABB's third for the Three Gorges hydro power project. In August
1997, ABB won a US$ 250-million order to deliver eight 700-megawatt hydro
generators to the project. In April of this year, ABB won an order valued at
more than US$ 340 million to supply two converter stations for a 3,000-megawatt
high-voltage direct current (HVDC) power link between Three Gorges and The
coastal province of Jiangsu and Shanghai area. ABB continues to develop its
business in other parts of China as well. Recent orders include the complete
electrical installation at one of the largest paper mills in Asia, located at
Dagang, near Nanjing. ABB also announced last week the formation of its 22nd
joint venture in China, a plant in Zhongshan to build power transfromers for the
Chinese and export markets.
'We have positioned ourselves for growth in the important Chinese market with
our strong local presence - over 5,000 people and more than 20 joint ventures,'
said ABB President and CEO, Goran Lindahl. 'We intend to continue to support
the economic development of China by delivering the best technology available
and by growing our local business even further.'
ABB is a globalized technology and engineering company
serving customers in power transmission and distribution; automation; oil, gas,
and petrochemicals; industrial products and contracting; and in financial
services. Power generation customers are served by the joint venture ABB ALSTOM
POWER. The ABB Group employs about 175,000 people in more than 100 countries.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.