CIU.L Regulatory News (CIU)

15 Dec 2006 07:58

Cape PLC15 December 2006 15 December 2006 Cape PLC ("Cape" or the "Company") Contract Awards - Saudi Arabia Cape PLC (AIM:CIU), the international provider of support services for the energy sector, which operates in Saudi Arabia through its subsidiary RB Hilton Saudi Arabia Limited ("RBHSA"), is pleased to announce significant contract awards with a combined value in excess of US$30 million. The awards are for workon the Yanbu National Petrochemical Company (YANSAB) Olefins 1 Complex being built for Saudi Arabian Basic Industries Company ("SABIC") in the second industrial city of Yanbu on the West Coast of Saudi Arabia. The complex will consist of six plants, the main plant being a 1,300,000 tpa Mixed Feedstock (Ethylene/Propylene) cracker facility, which is expected to be the largest plant of its kind in the world when it is completed in the second quarter of 2008. RBHSA has been awarded contracts on the plant from three companies: * Saudi Archirodon Ltd, who are responsible for all of the civil construction on the project, for whom RBHSA will provide scaffolding services for the buildings and pipe racks * Technip Saudi Arabia and IREM (Italy) Joint Venture, who are to complete the mechanical and electrical installation of the project where RBHSA will provide multi disciplined services such as thermal insulation, refractory, perlite filling for the Ethylene and Propylene tanks and 'Common User'scaffolding services for all subcontractors * Sinopec of China on the 440,000 tpa Polypropylene and 500,000 tpa Polyethylene I (LLDPE) plants, which will receive feed stocks from the cracker facility. RBHSA is currently providing all scaffolding services for the civil construction and anticipates continuing this service for the mechanical and electrical installation Cape's Chief Executive, Martin May said: "These contract awards from leading EPCand civil & mechanical companies are extremely pleasing. They demonstrate thatour Saudi Arabian operation is at the leading edge of the significant industrialexpansion taking place in the Kingdom of Saudi Arabia. These awards along withthose announced on 15 November 2006 continue to provide a very strong platformon which RBHSA can grow its business exponentially over the next two to three years." ENDS For further information, please contact:Cape PLCMartin May, Chief Executive +44 (0)1924 876 276 Bell Pottinger Corporate & FinancialNick Lambert +44 (0)20 7861 3232 /+44 (0)7811 358 764 Notes to editors Cape PLC is the parent company of a number of service providing organizationsoperating primarily in the oil and gas, petrochemical and power generationindustries. In the year to 31 December 2005, Cape reported turnover of £261.8 million and itcurrently employs c. 7,700 people in 23 countries worldwide. Cape specialises in the provision of scaffolding, insulation, fire protection,specialist cleaning and other essential services to major industrial clients inthe energy sector. Cape's ability to provide specialist cleaning services wasenhanced by the acquisition of DBI Group Limited in October 2006. In the UK, Cape operates as Cape Hire and Sales, Cape Security Services, DBIIndustrial Services and DBI Offshore Services. Cape also operates in Bahrain andSaudi Arabia under the name RB Hilton. This information is provided by RNS The company news service from the London Stock Exchange