Outotec signed EUR 110 million oil shale technology contract with
Eesti Energia>
Outotec signed EUR 110 million oil shale technology contract with Eesti Energia
(Thomson Reuters ONE) - OUTOTEC OYJ STOCK EXCHANGE RELEASE, JULY 10, 2009 AT 1.00 PMOUTOTEC SIGNED EUR 110 MILLION OIL SHALE TECHNOLOGY CONTRACT WITHEESTI ENERGIAOutotec has reached an agreement with Eesti Energia for the design,delivery and construction of a new oil shale processing plant to bebuilt in Narva, Estonia. The contract is valued at approximately EUR110 million. Outotec has already made basic engineering for the sameplant, which is scheduled for commissioning in early 2012.Outotec and Eesti Energia have developed a solution, which greatlyimproves the existing solid heat carrier process for the extractionof oil from oil shale and other hydrocarbon materials. In course ofthe development, large-scale test work was conducted primarily atOutotec's research center in Frankfurt, Germany. The new sustainableprocess, called Enefit, utilizes the latest fluidized bed technology.Outotec's scope of delivery includes engineering, procurement,equipment supplies, construction and commissioning of key plantsections of the new plant based on the Enefit technology. The plantwill process over 2.2 million tonnes of oil shale annually, resultingin roughly 290,000 tonnes of oil. The spent oil shale from thepyrolysis will be combusted in a circulating fluidized bed reactor.The combustion energy is utilized to dry and heat up the raw oilshale and to produce steam for electrical energy generation."This contract is a significant breakthrough in applying our existingtechnologies within other process industries, such as oil shaleprocessing. Furthermore, the new sustainable technology enhancesenergy efficiency and ensures compliance with the European Union'senvironmental regulations," stated Outotec's CEO Tapani Järvinen.For further information please contact:OUTOTEC GmbHPeter Weber, President - Metals Processing divisiontel. +49 6171 9693 165e-mail peter.weber(at)outotec.comOUTOTEC OYJEila Paatela, Vice President - Corporate Communicationstel. +358 20 529 2004, +358 400 817 198e-mail eila.paatela(at)outotec.comDISTRIBUTIONNasdaq OMX HelsinkiMain mediawww.outotec.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 10.07.2009 - 06:00 Uhr
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