The News Review:
- Explosives group Dyno Nobel Moranbah plant plan lives
- USEC Hits 4-Year Low on New Plant Costs
- Vienna shares close higher led by financials; MV Telekom Austria…
- A-TEC Industries Acquires British Installation Erection and Service…
- BHEL bags Rs 1075-cr order for 350-MW power plant in Gujarat
Explosives group Dyno Nobel Moranbah plant plan lives
NEWS.com.au – Feb 26, 2008
article-tools –> Tony Grant-Taylor February 25 2008 11:00pm DYN Nobel’s ill-fated Moranbah ammonium nitrate plant on which work was suspended in December may not be dead. The explosives group yesterday announced it had written off $US75 million ($A81 million) against the stalled 330000-tonne-a-year project on which work was indefinitely suspended following a huge cost blow-out from $500 million to on some estimates $800 million. And Dyno will not pay a second-half dividend pending a final assessment of Moranbah’s future. However while most observers had written off any chance of the project being resurrected Dyno chief executive Peter Richards said yesterday the group was talking to potential joint-venture financial partners on getting the project back on track. Announcing a solid underlying performance for 2007 but one heavily impacted by one-offs like the Moranbah write-down he said the alliance of the United Group Bilfinger Berger and BGC which was to build the plant had resumed work on engineering studies and been reworking cost estimates over the last six weeks or so… But Mr Richards said if the project could be seriously "derisked; if we become confident it can absolutely be delivered" there was a chance. He said in December Dyno had been unable to adequately put a cost or any reasonably certain cost on the project. Engineering studies since had reached a stage where normally the project developers could give you "a lump sum turnkey cost". He said Dyno was talking to several potential "financial investor types. (with) the intention being to partner with one of those investors to see Moranbah built".
USEC Hits 4-Year Low on New Plant Costs
Motley Fool – Feb 26, 2008
Goldman Sachs analyst Albert Kabili said he expected the plant construction to cost $3 billion and wondered if costs will rise further. “With costs already running significantly above initial expectations we are concerned of further overruns as cost pressures continue to rise given tight engineering capacity and rising global commodities demand” he wrote in a note to investors. The company also said the first design for the plant’s centrifuge did not meet its targets which Kabili said implies the plant may not be finished on time. Wachovia analyst Samuel Brothwell agreed noting that the company said it could slow down the pace of manufacturing at the ACP. The plant is scheduled to begin operating in late 2009 and become fully active in 2012. The American Centrifuge project uses centrifugal force rather than the conventional gaseous diffusion method of uranium enrichment. USEC added that it is conducting a review of the costs for the plant with findings to be released in the second quarter.
Vienna shares close higher led by financials; MV Telekom Austria…
Forbes – Feb 26, 2008
A-TEC said today this morning its plant engineering and construction unit AE&E bought a Newport-based plant maintenance and assembly company MII for an undisclosed sum. All rights reserved.
A-TEC Industries Acquires British Installation Erection and Service…
Earthtimes – Feb 26, 2008
The acquisition willalso bolster AE&E’s expertise as a full-line supplier enabling it to providewaste incinerator maintenance and associated services via a local subsidiaryas well as plant erection installation and commissioning. "MII has a strong position in its markets. It enjoys anexcellent reputation with its customers and suppliers and has extensiveexperience of managing plant engineering projects" said A-TEC IndustriesManagement Board member Christian Schmidt commenting on the takeover. Austrian Energy & Environment CE Georg Gasteiger noted: "The know-how of thenew employees will be a big help to AE&E in executing major upcoming projectsin the UK. Their expertise will also provide a good springboard for theexpansion of our service and maintenance business while the additionalcapacity will help underpin our future growth. " About A-TEC Industries AG Vienna listed A-TEC Industries AG is an internationalindustrial group headquartered in the Austrian capital which operatesthrough thriving Drive Technologies Plant Construction MechanicalEngineering and Metals Industry divisions. The group currently employs around13500 people and in 2006 posted revenues of EUR 1.
BHEL bags Rs 1075-cr order for 350-MW power plant in Gujarat
Free with registration – PTI – The Press Trust of India Ltd – AccessMyLibrary.com – Feb 26, 2008
BHEL bags Rs 1075-cr order for 350-MW power plant in Gujarat New Delhi Feb 26 (PTI) Power equipment supplier Bharat Heavy Electricals Ltd today said it has bagged a Rs 1075- crore order for setting up a 350-MW power plant in Gujarat. Gujarat State Energy Generation Ltd has placed.