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ABB Wins $60 Million Order To Build Power Station In Iraq

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03/08/2012 | 12:08pm CET

Power and technology group ABB Ltd (ABBN.VX) Thursday said it has won a $60 million order from Shell Gas Iraq BV to build a new power plant in southern Iraq.


- The power plant will be operated by the Basrah Gas Company, a joint venture company to be set up as part of the Iraq, South Gas Project.

- The project includes the rehabilitation of the existing facilities and addition of new facilities.

- "This project will ensure a stable and reliable power supply to support existing and future infrastructure," said Veli-Matti Reinikkala, head of ABB's Process Automation division.

- "ABB's capability to fully execute all aspects of this complex project will help provide the Basrah Gas Company with the electricity it needs to successfully power its complete production process," Reinikkala added.

- The Khor Al Zubair project is part of an EPC (engineering, procurement and construction) contract to build a power plant with a total capacity of 50 megawatt (>> The Men's Wearhouse, Inc.), which will feed electricity to the facilities of the Basrah Gas Company.

- ABB will be responsible for the overall project management, engineering, procurement, construction, supervision, commissioning and start-up services, as well as performance.

- The plant is scheduled for completion in the third quarter of 2013.

- ABB's will supply process control systems, fire and gas, and emergency shutdown systems, power management systems, step-up and distribution transformers, medium- and low-voltage power equipment, and site utilities such as the diesel generator, flare control and compressed air system.

-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; zurichdjnews@dowjones.com

Stocks mentioned in the article : The Men's Wearhouse, Inc.
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Sales 2017 33 501 M
EBIT 2017 3 866 M
Net income 2017 2 341 M
Debt 2017 954 M
Yield 2017 3,45%
P/E ratio 2017 20,37
P/E ratio 2018 17,38
EV / Sales 2017 1,53x
EV / Sales 2018 1,47x
Capitalization 50 370 M
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Average target price 22,6 $
Spread / Average Target -0,47%
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Ulrich Spiesshofer President & Chief Executive Officer
Peter R. Voser Chairman
Eric A. Elzvik Chief Financial Officer
Andy Tidd Head-Information Systems
Bazmi Rizwan Husain Chief Technology Officer
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