Re Contract

RNS Number:0665M
Kvaerner PLC
24 October 2001


Kvaerner awarded US$13 million power project for Black & Veatch in the USA

LONDON, 24 OCTOBER 2001: Kvaerner, the Anglo-Norwegian engineering and
construction Group, today announced that it has been awarded a US$13 million
contract by Black & Veatch Construction Inc.  The contract calls for the
erection of two heat recovery steam generators and one steam condenser at
Allegheny Energy Supply Company's 515 MW electric generating facility now
under construction near Springdale, Pennsylvania, USA.

Keith Henry, Chief Executive, Kvaerner E&C, said: "This is our third contract
for work on Allegheny Energy power stations in the past year.  The latest
award demonstrates the commitment and versatility Kvaerner brings to the power
industry, and reaffirms our extensive capability and experience in handling
the broad spectrum of power construction requirements."

Kvaerner Songer, Inc. in Washington, Pennsylvania, will have an integral role
in this combined cycle gas-fired project.  Kvaerner Songer's erection work for
the project will commence in December 2001 and is scheduled for completion in
November 2002.  

In the U.S., Kvaerner E&C is currently building six power plants with a total
capacity of more than 3,000 MW.  Major Kvaerner Songer projects include a 585
MW natural gas-combined cycle merchant power plant for Calpine Corporation at
its Fremont Energy Center, in Ohio, a 540 MW gas-fired power plant for Kinder
Morgan at Jackson, Michigan, and two SCR installations for Allegheny Energy
Supply.


For further information: 

Paul Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20
7339 1035 or [phone] or [e-mail] or Vanessa
Mourant, Kvaerner E&C, London: [phone] or
[e-mail] or Terry Alderson, Kvaerner E&C, Washington,
P.A.: [phone] or [e-mail]

Note to editors:
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, Africa, Asia and the Americas.