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December

Eptisa y Abengoa has been inaugurated the biggest project of economic cooperation between Spain and Mauritania

December 16, 2004

Sevilla, 16 December 2004.- The Joint-Venture Eidra, sets up by Eptisa and Inabensa, has completed the construction of the turn-key project of a storage plant for oil products in Nouackchott. The project amount, 36 million dollars, has been financed with a granted credit by the Spanish Government to the Mauritanian Hydraulic and Energy Department.

The plant has capacity for 60,000 m3 of oil products, with specific tanks for diesel fuel, gasoline, fuel oil and kerosene. It has an anchorage placed at the inlet Port de l’Amitié, which a capacity for 15,000 DWT ships, as well as canalisations for the transportation of oil products and gas to the installations of Somagaz and Société Mauritanienne d’Entreposage de Produits Petroliers (MEPP). The staff training and the logistic support were also included from the different stages of the work to final commissioning.

According to Abener's Chairman, Mr. Alfonso Gonzalez Dominguez, “the built plant will mean a great help because the main economic sectors of the country –mining and fishing industry- are limited to provide population, but a significant economic development has been obtained during last 10 years. The oil production may have a huge impact in the economy of the country. The discovered oilfield and gas deposit at Tiof, in Mauritanian Coast, are going to contribute to the country increase”.

According to Luis Villarroya, EP Group´s CEO, “the project It is the biggest public work executed in the country during last years. We are very proud to contribute for the economic development of Mauritania”.

Eptisa is the leading company in civil engineering in Spain. It has more than 1,300 employees. The turnover in 2003 was 85.6 million euros and the expected down in 2004 is around 100 million euros. During last months it has incorporated all engineering companies of the Group EP and therefore has local companies in Catalonia (Eptisa Enginyeria I Serveis), Basque Country (Eptisa Cinsa Ingeniería y Calidad) and specializing (IIC, company for the integration of control and measurement technology) and Eptisa Proyectos Internacionales (with branches in Bogotá, Brussels, Bucharest, Buenos Aires, Rabat, Rio de Janeiro and Santiago and open projects in more than 30 countries from Eastern Europe, Africa and Latin America).

Inabensa, subsidiary company of Abeinsa, is the leading firm in Engineering and Industrial Construction of the Business Group Abengoa. Its activity is focused in the engineering, construction and maintenance of the electrical, mechanical and instrumentation infrastructure in the areas of energy, industry, transport and services.

Also its activity extends to promotion, construction and the operation of industrial, energetic conventional plants (cogeneration and combined cycle), renewable plants (bioethanol, biomass, wind electric, solar plant and geothermy) and telecommunication networks and turn-key projects (www.abeinsa.com).

Abengoa, a listed industrial and technology company with share capital in excess of 522 million euro (31/12/2003), provides solutions for Sustainable Development, the Information and Knowledge Society, and the Creation of Infrastructures. It currently operates in four large activity sectors: Bioenergy, where it is the world's no. 2 bioethanol producer; Environmental Services, where it is European leader in segments of the industrial waste market; Information Technologies, where it is one of the main role players at international level, with operations in Europe, America and Asia; and Industrial Engineering and Construction, where it is leader in Spain and Latin America. (www.abengoa.com).



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