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Dividends
November
1998
Approximately 150 people will be employed by MSD when the facility is fully operational. The MSD Singapore chemical manufacturing facility will be a flexible, multiproduct operation capable of producing various bulk active ingredients for MSD products.
ABB WINS TEXAN TURNKEY ORDER ABB, the international engineering company, has been awarded a turnkey contract to build a 1000 MW gas-fired combined-cycle power plant in Midlothian, Texas. The contract, valued at more than US$350 million, was placed by independent power producer American National Power Inc. a subsidiary of National Power plc UK. Under the terms of the contract, ABB will supply four CT24 gas turbines and associated steam turbines, electrical generators, and heat recovery steam generators. In addition, ABB will provide the engineering, procurement, and construction work as well as the power plant control, the distribution systems, and the balance of plant equipment. ABB will also be responsible for the complete installation and commissioning. ABB Combustion Engineering Boiler Systems of Windsor, Connecticut, will supply the heat recovery steam generator, and ABB Power Generation of Midlothian, Virginia, will provide gas turbine assembly, civil works, and construction. Work on the new power plant is planned to begin later this year, with commercial operation set for the summer of 2000. The plant will be one of the largest merchant power plants in the increasingly deregulated US power market. Merchant plants
Filtration
deliver power as needed to meet the actual short-term demands of the open market, without the long-term contract and guaranteed prices typical of regulated markets.
GREENFIELD PLANT FOR PARIS, TEXAS Duke/Fluor Daniel has been awarded a turnkey contract by Panda Paris Power LP, a subsidiary of Panda Energy International Inc, to provide engineering, procurement, construction and start-up services for a 1000 MW, greenfield power plant located in Paris, Texas. The value of Duke/Fluor Daniel’s contract was not disclosed. Detailed engineering for the combined cycle power plant, which is Duke/Fluor Daniel’s third merchant power plant in Texas, is underway. Commercial operation is scheduled for the summer of 2000 and construction will begin in March 1999. Established in 1982, Panda Energy International is a privately held corporation which develops power and infrastructure projects worldwide. Duke/Fluor Daniel, formed in 1989 by Duke Energy Corp and Fluor Daniel, provides engineering, procurement, construction, operations and maintenance services for fossil-fueled electric power generation facilities worldwide.
GE CAPITAL FINANCES SENEGAL POWER PROJECT GE Capital Structured Finance Group (SFG) has completed the financing of the US$65 million, 50+MW GTi Dakar power plant in Senegal. Developed and sponsored by SFG, the GTi Dakar power plant represents the largest single US investment in Senegal. The project will employ
energy-efficient power generation equipment provided by NUOVO Pignone, a subsidiary of General Electric Power Systems. Construction is expected to begin soon, and will be carried out in two stages over 19 months.
DEATH KNELL TOLLS FOR GERMAN NUCLEAR INDUSTRY Germany’s newly elected Social Democrat and Green coalition government is phasing out nuclear power. The two parties have agreed a plan to shut down the country’s 19 nuclear power plants, which provide around a third of Germany’s electricity. November 1999 has been set as the deadline for reaching agreement with industry over the pace of the closures, but the shutdown process itself may take up to 30 years. Sources say that if an agreement is not reached with industry, the coalition govemment will legislate anyway.
ELWOOD ENERGY SELECTS GE AS CONTRACTOR Elwood Energy LLC, a joint venture between Peoples Energy Resources Corp and Dominion Energy Inc, has signed a contract with General Electric to provide engineering, procurement and construction services for two additional combustion turbines, as part of a facility expansion. Under the terms of the agreement, GE will provide two 150 MW Model PG723 1FA combustion turbines at the planned merchant electricity facility, scheduled for construction at an energy centre 60 miles southwest of Chicago. When the additional units are installed, they will
Industry Analyst
increase the proposed facility’s total planned capacity from 300 MW to 600 MW. The four turbines will enter service in June and July 1999.
SHELL AND ENRON AGREE ON CUIABA PROJECT Shell International Gas Ltd and Enron International have Bnalised a partnership agreement to develop the Cuiaba Power Project. This integrated power project consists of a gas-fired combined cycle power plant situated in Mato Grass0 state in the west of Brazil and a 630 km gas pipeline in Bolivia and Brazil. With a final capacity of 480 MW. the plant will be developed in stages, over three years. The total cost of the project is approximately US$500 million and the first phase is expected to start-up at the end of this year. Shell equity in the project ranges between 25 and 35 per cent for the power station and pipeline respectively.
HERCULES EXPANDS PECTIN PRODUCTION Hercules is undertaking engineering studies to expand its pectin facility at its food gums plant in Grossenbrode, Germany. This investment will increase pectin annual capacity in Grossenbrode from 3300 metric tons to 5500 metric tons. The project, which will reduce manufacturing costs at the site considerably, is scheduled for completion by the third quarter of 2000. This automation and expansion project is the first in a series of three planned expansions. Hercules is the world’s largest producer of pectin, which is derived from citrus and apple peels and used primarily in the food industry as a stabiliser.
1998
Approximately 150 people will be employed by MSD when the facility is fully operational. The MSD Singapore chemical manufacturing facility will be a flexible, multiproduct operation capable of producing various bulk active ingredients for MSD products.
ABB WINS TEXAN TURNKEY ORDER ABB, the international engineering company, has been awarded a turnkey contract to build a 1000 MW gas-fired combined-cycle power plant in Midlothian, Texas. The contract, valued at more than US$350 million, was placed by independent power producer American National Power Inc. a subsidiary of National Power plc UK. Under the terms of the contract, ABB will supply four CT24 gas turbines and associated steam turbines, electrical generators, and heat recovery steam generators. In addition, ABB will provide the engineering, procurement, and construction work as well as the power plant control, the distribution systems, and the balance of plant equipment. ABB will also be responsible for the complete installation and commissioning. ABB Combustion Engineering Boiler Systems of Windsor, Connecticut, will supply the heat recovery steam generator, and ABB Power Generation of Midlothian, Virginia, will provide gas turbine assembly, civil works, and construction. Work on the new power plant is planned to begin later this year, with commercial operation set for the summer of 2000. The plant will be one of the largest merchant power plants in the increasingly deregulated US power market. Merchant plants
Filtration
deliver power as needed to meet the actual short-term demands of the open market, without the long-term contract and guaranteed prices typical of regulated markets.
GREENFIELD PLANT FOR PARIS, TEXAS Duke/Fluor Daniel has been awarded a turnkey contract by Panda Paris Power LP, a subsidiary of Panda Energy International Inc, to provide engineering, procurement, construction and start-up services for a 1000 MW, greenfield power plant located in Paris, Texas. The value of Duke/Fluor Daniel’s contract was not disclosed. Detailed engineering for the combined cycle power plant, which is Duke/Fluor Daniel’s third merchant power plant in Texas, is underway. Commercial operation is scheduled for the summer of 2000 and construction will begin in March 1999. Established in 1982, Panda Energy International is a privately held corporation which develops power and infrastructure projects worldwide. Duke/Fluor Daniel, formed in 1989 by Duke Energy Corp and Fluor Daniel, provides engineering, procurement, construction, operations and maintenance services for fossil-fueled electric power generation facilities worldwide.
GE CAPITAL FINANCES SENEGAL POWER PROJECT GE Capital Structured Finance Group (SFG) has completed the financing of the US$65 million, 50+MW GTi Dakar power plant in Senegal. Developed and sponsored by SFG, the GTi Dakar power plant represents the largest single US investment in Senegal. The project will employ
energy-efficient power generation equipment provided by NUOVO Pignone, a subsidiary of General Electric Power Systems. Construction is expected to begin soon, and will be carried out in two stages over 19 months.
DEATH KNELL TOLLS FOR GERMAN NUCLEAR INDUSTRY Germany’s newly elected Social Democrat and Green coalition government is phasing out nuclear power. The two parties have agreed a plan to shut down the country’s 19 nuclear power plants, which provide around a third of Germany’s electricity. November 1999 has been set as the deadline for reaching agreement with industry over the pace of the closures, but the shutdown process itself may take up to 30 years. Sources say that if an agreement is not reached with industry, the coalition govemment will legislate anyway.
ELWOOD ENERGY SELECTS GE AS CONTRACTOR Elwood Energy LLC, a joint venture between Peoples Energy Resources Corp and Dominion Energy Inc, has signed a contract with General Electric to provide engineering, procurement and construction services for two additional combustion turbines, as part of a facility expansion. Under the terms of the agreement, GE will provide two 150 MW Model PG723 1FA combustion turbines at the planned merchant electricity facility, scheduled for construction at an energy centre 60 miles southwest of Chicago. When the additional units are installed, they will
Industry Analyst
increase the proposed facility’s total planned capacity from 300 MW to 600 MW. The four turbines will enter service in June and July 1999.
SHELL AND ENRON AGREE ON CUIABA PROJECT Shell International Gas Ltd and Enron International have Bnalised a partnership agreement to develop the Cuiaba Power Project. This integrated power project consists of a gas-fired combined cycle power plant situated in Mato Grass0 state in the west of Brazil and a 630 km gas pipeline in Bolivia and Brazil. With a final capacity of 480 MW. the plant will be developed in stages, over three years. The total cost of the project is approximately US$500 million and the first phase is expected to start-up at the end of this year. Shell equity in the project ranges between 25 and 35 per cent for the power station and pipeline respectively.
HERCULES EXPANDS PECTIN PRODUCTION Hercules is undertaking engineering studies to expand its pectin facility at its food gums plant in Grossenbrode, Germany. This investment will increase pectin annual capacity in Grossenbrode from 3300 metric tons to 5500 metric tons. The project, which will reduce manufacturing costs at the site considerably, is scheduled for completion by the third quarter of 2000. This automation and expansion project is the first in a series of three planned expansions. Hercules is the world’s largest producer of pectin, which is derived from citrus and apple peels and used primarily in the food industry as a stabiliser.