Re Contract

RNS Number:7256G
Kvaerner PLC
11 July 2001

Kvaerner E&C secures contract for Hang Yang Air Liquide in China

LONDON, 11 JULY 2001: Kvaerner, the Anglo-Norwegian engineering and
construction Group, today announced that it's E&C business area has been
awarded a contract by Hang Yang Air Liquide Co. Ltd. (a joint venture between
Air Liquide and Hangzhou Hangyang Group).  Kvaerner will undertake the
engineering, procurement and construction of an air separation unit and
liquefier plant at Wuxi, Jiangsu Province, near Shanghai, China.

"This award is further confirmation of Kvaerner's success in providing global
expertise in engineering and construction services - tailored to local
conditions, especially in the fast growing South East region of China,"
commented John Lindfield, Managing Director, Kvaerner E&C China.  "The project
also represents another major investment for Air Liquide, which is
significantly increasing its presence in the region and has plans for other
new plants in the future," added Lindfield.

The grassroots facility, which represents a total investment by the customer
of US$20 million, will have a capacity of 260 tons per day liquid oxygen and
associated argon, and 430 tons per day of liquid nitrogen. The work will be
executed from Kvaerner's recently opened Shanghai office, and the project is
due for completion at the end of September 2002.   


For further information: 

Paul Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20
7339 1035 or [phone] or [e-mail]  or Vanessa
Mourant, Communications Manager, Kvaerner E&C: [phone] or +44
(0)7771 806566 or  [e-mail] or William C Zhang, Kvaerner,
China:  [phone] or  [e-mail] or visit the Group
web-site at http://www.kvaerner.com 

Notes to editors:
1. Kvaerner is a world-class Anglo-Norwegian engineering and construction
Group.  It meets the needs of its customers by adding value to their business
- through the provision of innovative, cost-effective solutions - for
challenges in the hydrocarbons, process and metals industries.  The Group's
activities are currently organised in two core business areas: E&C
(Engineering and Construction), and Oil & Gas.  Kvaerner is a Norwegian
registered business, but has a London, UK-based international headquarters. 
The Group has annual revenues in excess of US$6 billion, with some 35,000
permanent staff located in almost 35 countries throughout Europe, Asia and the
Americas.

2. The E&C business area of Kvaerner specialises in the provision of process
technology, design, engineering, project management, procurement and
construction to a number of industrial sectors on a worldwide basis: chemicals
and polymers, pharmaceuticals, oil and gas, water, energy, nuclear, minerals,
mining, steel and transportation.  Kvaerner's breadth of capability is unique
among its competitors.  It offers the complete range of services that are
necessary to realise global projects from conception to start-up.  These
services include a portfolio of advanced process technologies, research and
development, test work, a full range of engineering studies (including
bankable feasibility and environmental studies), total project management,
engineering and design, procurement, construction and maintenance services.   
Kvaerner E&C employs more than 9,000 people operating from over 30 offices
worldwide.  This global reach enables Kvaerner to tailor its services and
resources to suit individual client needs and market conditions to provide
cost-effective technical solutions.