WORLEY PARSONS WINS TENDER FOR NEW POWER UNIT CONSTRUCTION IN ARMENIA

ARKA
May 13, 2009

YEREVAN, May 13. /ARKA/. Worley Parsons, a leading global player in
energy and resources markets, has won a tender for construction of
Armenia’s new power unit.

Armenia invited bids for the manager of the new power unit’s
construction on February 23.

According to Vasak Taproshyan, press secretary of the RA State
Procurement Agency, Armenia preferred Worley Parsons to the global
consortium Scientech, as the latter did not provide any warranties
on its price bid.

Taproshyan did not mention the price bid of Worley Parsons, adding
a relevant agreement would be signed to fix the final price in 15 days.

Armenia is likely to spend some $5bln on the 1000MW power unit
construction.

To implement the project, the RA Parliament lifted monopoly on
power units.

The Country is supposed to launch the power unit construction in 2011.

Armenia’s Deputy Minister of Energy Areg Galstyan previously said
the winner of the bid is to make a conceptual design of the power
unit and supervise construction.

Specialists say the Metsamor-based Armenian NPP can operate till 2016.

The NPP started operations in 1976. Only the second power unit of the
plant with a Russian nuclear reactor works. The unit covers about 50%
of Armenia’s energy demand.

By 2008, the Armenia NPP will be under the trust management of the
INTER RAO UES CJSC, subsidiary of RAO UES Russia owned by Russia’s
state atomic agency Rosatom.