Eltel wins two major power transmission contracts in Poland at a value of approximately EUR 25 million

HELSINKI, Finland--()--Regulatory News:

Eltel has signed two power transmission contracts for reconstruction of high voltage substations with the Polish transmission grid operator, PSE S.A.. The projects are in the Jasiniec and Joachimow regions and have a total value of approximately EUR 25 million.

The contract in Jasiniec is for a turnkey project to reconstruct a 220/110 kV substation including a new 400 kV switchgear. The scope of services spans from design, permitting, civil works, technology building, and a new 400 kV switchgear to complete substation systems. The contract in Joachimow is a turnkey project from design to start-up and testing, measurements and handover to the customer. Both projects will be started during 2016. The Jasiniec project will be completed by the end of 2019 and Joachimow project by early 2019.

The projects awarded to Eltel are part of a major investment programme for PSE to build 1,770 kilometres of new 400 kV and 220 kV overhead lines and upgrade 200 kilometres of 400 kV and 1220 kilometres of 220 kV existing lines. The investment programme is expanding the national power system in terms of power output and connection of new generation sources. In November, Eltel announced a project award by PSE for an overhead transmission line and an upgrade of a substation at a total value of approximately EUR 26 million. These projects are also part of the abovementioned PSE investment programme.

Fredrik Menander, President - Power Transmission at Eltel AB comments:

“The recent awards of these overhead line as well as the previously announced substation projects by PSE to Eltel are proof of our competitiveness in the Polish market. Eltel is in a position to offer a complete package of services from design to successful start-up, which is based on our long experience and solid platform of specialised power transmission resources and know-how in Poland. The new contracts are a nice add to our overall order backlog and contribute to the stable development of our business in the coming years”.

About Eltel

Eltel is a leading European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Transport & Security, with operations throughout the Nordic and Baltic regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. The current number of employees is approximately 9 300. In 2014 Eltel’s net sales amounted to EUR 1 242 million. Since February 2015, Eltel AB is listed on Nasdaq Stockholm.

This information was brought to you by Cision http://news.cision.com

Contacts

Eltel
Ingela Ulfves VP
Investor Relations and Group Communications
Tel: +358 40 311 3009
ingela.ulfves@eltelnetworks.com
or
Hannu Tynkkynen SVP
Group Communications
Tel: +358 40 311 4503
hannu.tynkkynen@eltelnetworks.com

Contacts

Eltel
Ingela Ulfves VP
Investor Relations and Group Communications
Tel: +358 40 311 3009
ingela.ulfves@eltelnetworks.com
or
Hannu Tynkkynen SVP
Group Communications
Tel: +358 40 311 4503
hannu.tynkkynen@eltelnetworks.com