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Kentz consortium awarded a COP 107 Billion (Colombian Peso) (approx. US$58m) contract in Cartagena, Colombia by CB&I.
London, 1 May 2013 - Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz engineering and construction group, is pleased to announce the award of electrical & instrumentation installation works by CB&I for the Reficar Refinery Expansion Project in Cartagena, Colombia.
Kentz Caribbean Sucursal Colombia, in consortium with local companies GMP and MASA will execute the electrical & instrumentation installation works for the process units on the new 165,000 bpd refinery expansion project at the Reficar refinery in Cartagena, Colombia. The duration of the contract is 15 months, with a value of approximately 107 Billion Colombian Pesos (approx. US$58m) and estimated peak manpower levels of over 750. The contract will be executed through the Construction business unit.
Christian Brown, Chief Executive Officer of Kentz commented: "This is an excellent example of how we can leverage our capabilities and relationships to further expand our business. This contract is our first in Colombia and it demonstrates our ability to expand into new countries and regions. It also highlights the strength of our relationships with key clients. We are delighted to continue our association with CB&I who we have successfully worked with in other parts of the world."
For further information see the Kentz website www.kentz.com or contact:
Kentz Corporation Limited
Investors: Ronan Tyrrell
Media: Paul Youens
+44 (0)20 3159 4004
Kentz is a global engineering specialist solutions provider, which serves a blue chip client base primarily in the oil and gas, petrochemical and mining and metals sectors. It is listed on the London Stock Exchange (symbol: KENZ). In the year ending December 2012, the company generated revenues of US$1.56billion and profit before tax of US$104.8 million. Kentz has over 14,500 employees in 30 countries. Its three main business lines are; engineering, procurement and construction (EPC) services, construction, and technical support services. It has a proven track record of delivering mechanical, electrical, controls and instrumentation engineering, construction and management services in some of the most remote locations on earth.
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