February 19, 2004
Madrid, 19 February 2004 - Abengoa, through its subsidiary Inabensa, has been awarded with five new contracts of MV/LV Rural Electrification for the Electricity National Office (Office National d'Électricité - ONE) in Morocco. The amount exceeds approximately 18.3 million Euros. The location of this contracts is in Taroundant and Chichaoua (South Area), Boulemane (Centre Area) and Chefchaouen (North Area).
Inabensa will electrify 449 towns, 600 Km Medium Voltage (MV), 1,585 Km Low Voltage (LV) and 344 transformation centres.
This contracts are part of the Global Rural Electrification Programme (PERG) that ONE is developing since 1996. The conclusion is considered to be in 2007. For that date, PERG will have been translated into the electrification of more than 34,400 towns, that will provide electricity at more than 12 million people from the rural area of Morocco. The total budget is 1,818 million Euros. The 91% of this electrification target will be performed by means of the union of the National Network and 7% decentralized electrification
Alfonso González, President of Inabensa's business, "thanks to this contracts, Inabensa Maroc will have electrified, since the PERG started 762 towns lengthwise the geography of the Arab country. Accumulated amount is nearly 37 million Euros, this turns the firm into one of the most important national companies in this sector".
Besides the rural electrification, Inabensa participate actively with the Office National d'Electricité in other projects, as the "Le Construction et le Renforcement des Lignes 225 kV du Reseau d'Evacuacion de la STEP.A.O.Nº ST 40104". The project consists of two main shares. Share 1: Construction of 202 km of 225 kV new lines. Share 2: Overinsulation and replacement of conductor in 220 km of 225 kV lines.
Abengoa is an industrial and technology company listed on the Stock Exchange, with a capitalisation of more than 500 million euros (31/12/2003). It provides solutions for Sustainable Development, the Information and Knowledge Society and the Creation of Infrastructures. It currently operates in four large fields of activity: Bio-energy, where it is the world's second bioethanol producer; Environmental Services, where it is the leader in Europe in some of the industrial waste market segments; Information Technologies, where it is one of the key players at international level, with operations in Europe, Latin America and Asia; and Industrial Engineering and Construction, where it is leader in Spain and Latin America.
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