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ABB IN CONSORTIUM TO RUN SOUTH AUSTRALIA'S POWER TRANSMISSION NETWORK
20 September 2000 - ABB Automation Technologies
| Global technology group ABB said today it is part of a consortium selected by the State of South Australia to operate and maintain a high-voltage power transmission network in the State under a long-term lease agreement. |
Global technology group ABB said today it is part of a consortium selected by the State of South Australia to operate and maintain a high-voltage power transmission network in the State under a long-term lease agreement. The consortium members are ABB, Queensland Electricity and Transmission Company (operating as Powerlink), and Macquarie Bank Limited. The consortium will operate and maintain the power transmission network, including some 5,500 kilometers of transmission lines, under the existing ElectraNet name. ABB said it is a 19.5 percent owner of ElectraNet SA, corresponding to an equity investment of US$ 10 million. The transmission system is the last electricity asset to be privatized in South Australia. ABB said the consortium will form a new operating company to be called Transmission Asset Management and Services Co. TAMSco will take on an eight-year operation and maintenance contract, with an option to extend the contract another five years. ABB added it expects to see both a good return on its investment as well as sales of equipment and services from it Power Transmission and Power Distribution segments. ElectraNet expects to invest more that US$ 100 million to expand and upgrade the network over the next four to five years in areas related to ABB's businesses.
http://www.abb.com
About: ABB Automation Technologies
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs around 105,000 people.
ABB has streamlined its divisional structure to focus on two core businesses: Power Technologies and Automation Technologies. The Oil, Gas and Petrochemicals division is slated for divestment. ABB Power Technologies serves electric, gas and water utilities as well as industrial and commercial customers, with a broad range of products, systems and services for power transmission, distribution and automation. ABB Automation Technologies blends a robust product and service portfolio with end-user expertise and global presence to deliver solutions for control, motion, protection, and plant integration across the full range of process and utility industries. In addition to ABB's automation activities directed at the oil and gas industries, ABB Lummus Global continues to design and supply production facilities, refineries and petrochemical plants. ABB's former Upstream business, divested in July 2004, is now part of Vetco International (www.vetco.com). |
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