Electrowatt Infra, which is part of the Jaakko Pöyry Group's Infrastructure & Environment business group, has been awarded an extension of the Taiwan high speed railway project by Taiwan High Speed Rail Corporation (THSRC). Electrowatt Infra will continue as the Independent Checking Engineer/Independent Site Engineer (ICE/ISE) together with International Railway Engineering Group (IREG). The assignment will be completed in June 2003. The value of the contract amounts to EUR 9.8 million.
The Taiwan high speed railway is a EUR 15.4 billion project and is currently one of the most challenging Build-Operate-Transfer (BOT) transport projects in the world. The owner, THSRC, is a joint venture of major Taiwanese industrial and financial companies.
The ICE/ISE services have been executed by IREG, which is a joint venture between Electrowatt Infra of Switzerland, the UK consultant Mott MacDonald, DE-Consult of Germany and the French consultant SYSTRA. IREG's total contract value of EUR 39.1 million for the extension covers a 2-year period with the option for continuing until the new railway is brought into service in late 2005. Electrowatt Infra has a 25 % share in this contract (EUR 9.8 million) and serves also as the financial co-ordinator of the IREG consortium.
JAAKKO PÖYRY GROUP OYJ
Erkki Pehu-Lehtonen
President and CEO
Teuvo Salminen
Executive Vice President