Isolux Corsán Signs Agreement With General Electric for the Acquisition of a Turbine for the Siddhirganj Project in Bangladesh

MADRID, October 3, 2012 /PRNewswire/ --

- Isolux Corsán is executing a turnkey project for the construction of a 335 MW combined cycle power plant in Bangladesh.

- The Spanish company is currently executing two contracts in this Asian country with a total turnover of nearly €420 million.

This past Wednesday Chairman Luis Delso of Isolux Corsán signed a contract in the city of Dhaka (Bangladesh) with Jeff Immelt, CEO of General Electric, for the acquisition of a latest generation 9FA turbine for Siddhirganj project, the 335 MW combined cycle power plant currently being executed by the spanish company under a turnkey contract for Electricity Generation Company of Bangladesh, the electricity public utility of this Asian country. The agreement was signed in the presence of the Ambassador of Spain to Bangladesh, H.E. Luis Tejada.  

This Siddhirganj plant joins the project that is being built in Khulna, the third largest industrial city of Bangladesh, for a 160 MW open cycle power plant awarded by Northwest Power Generation Company. The total price tag on both contracts is close to €420 million.

The construction of these two projects in Bangladesh, the seventh most populous country in the world with 168 million inhabitants, is part of Isolux Corsán's expansion strategy in Asia, where it currently has stable operations in Saudi Arabia, Jordan, Kuwait, Oman, Qatar, Syria and India.

About Isolux Corsán

Isolux Corsán is a global benchmark in energy, concessions, construction and maintenance of major infrastructure which operates in over 30 countries on four continents. The construction of major transport, railway, airport, maritime, and hydraulic infrastructure and residential and non-residential buildings are the comapny's main growth areas. Isolux Corsán manages, through its subsidiary Isolux Infrastructure- concessions on 5,533 km of transmission lines in Brazil, India and the U.S., 1,610 km of highways in India, Brazil, Mexico and Spain and develops and manages 286 MWp of solar PV power in Italy, Spain, India, Peru and the U.S..  In the energy sector, Isolux Corsán is one of the leading operators in the world in T&D facilities and maintenance, one of the largest builders of EPC projects in the Solar PV industry and is a leader among the large builders in power plant EPC. In addition, the Group holds more than 22,000 parking spaces under conecession in Spain. In 2011, Isolux Corsán recorded revenues of €3.372 Bn, EBITDA of €393 Mn and backlog of €43.11 Bn.