Bateman Develops Power Sector Capability with 893 Megawatts of Romanian and Kazakhstan Plants

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). The Romanian ministry of Economy and Commerce and Elcen (Electrocentrale Bucuresti) have awarded the Bateman Group a $360 million contract to construct two new power stations in Romania. The 400 MW plant at Lernut and the 223 MW plant at Bucharest South will be natural gas fired and will incorporate the latest CGT technology from Siemens. The investment in the Lernut unit will be $216 million and at Bucharest South $144 million.

The Bateman led consortium to build the power plants will include Domberger Somogin (Monaco) and Electrowatt/Eknono (Switzerland). This is the first major foreign investment in the Romanian energy system since the country's democratic revolution in 1989. System reform and restructuring, over the last three years, have opened up opportunities for non-state, non-Romanian companies. The current full capacity rating of the country's generation units is about 22,600 MW. The consortium advised on prefeasibility financing options. This facilitating approach will open the way for other Romanian projects that are anticipated as the country moves towards entry into the EU in 2007.

The final feasibility study on the projects should be completed by October 2004, with construction completed by the end of 2006. The contract is for a build-own-operate project.

The Bateman subsidiary, in Kazakhstan, is currently working on a 270 MW power plant for AGIPCO, a consortium of major oil companies, developing the major offshore Kashagan oil field. The $190 million power plant in Atyrau on the Caspian Sea coast, will supply power to the onshore petrochemical complex. The project should be completed by mid 2006, and Bateman has the operating and maintenance contract for five years with an option to expand the plant to 320 MW capacity. The main power, emergency electrical generation facilities, steam turbine building, civil works, project management, permitting, certification, and the construction of contractor's camps are covered under the contract.

The Bateman Group has projects in 70 countries across the globe providing services, outsourcing, procurement, and project management to resource companies and is expanding its participation and capabilities in the energy sector. It counts as one of its strengths an ability to offer solutions to convert natural resources into marketable products. In emerging markets where it is difficult to find funding it has acted as facilitator putting together financing for projects through international banks. It has established relationships with banks through its dedicated global finance entity in South Africa and Switzerland.

The company is registered in the Netherlands and is owned by an investment consortium, Charton Investments, of which Beny Steinmetz, the Israel-based global diamond industry entrepreneur and investor, is the leader. The long- established South African project engineering company in Boksburg, South Africa, was bought out by the consortium in 2002. It now generates more than 66% of its revenue outside South Africa and projects are often credited to Bateman Israel.

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