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BOISE, Idaho and PHOENIX, July 18, 2006 /PRNewswire-FirstCall
Washington Group International Inc. (Nasdaq: WGII) announced today it has been awarded a contract by Salt River Project, the largest municipal provider of electricity to the greater Phoenix metropolitan area, to provide architectural, engineering, and procurement support services for a new 400-megawatt, coal-fired generating unit at the Springerville Generating Station in eastern Arizona. The new unit is scheduled to be operational in late 2009. "Coal is becoming an increasingly attractive economical alternative to oil and gas for electricity generation, and Washington Group works with our clients to implement state-of-the-art technology that results in clean-burning coal plants," said Lou Pardi, president of the company's Power Business Unit. "Adding a new unit to the Springerville facility will help meet the future growth load of the region while allowing consumers in Arizona to benefit from stabilized power costs and a more diverse power generation source." Salt River Project provides electrical service to nearly 890,000 customers in the greater Phoenix metropolitan area. Tucson Electric Power, the principal subsidiary of UniSource Energy, serves more than 375,000 customers in Southern Arizona. Washington Group International Inc. (Nasdaq: WGII) provides the talent, innovation, and proven performance to deliver integrated engineering, construction, and management solutions for businesses and governments worldwide. Headquartered in Boise, Idaho, with more than $3 billion in annual revenue, the company has approximately 24,000 people at work around the world providing solutions in power, environmental management, defense, oil and gas processing, mining, industrial facilities, transportation and water resources. For more information, visit www.wgint.com. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are identified by the use of forward-looking terminology such as may, will, could, should, expect, anticipate, intend, plan, estimate, or continue or the negative thereof or other variations thereof. Each forward-looking statement, including, without limitation, any financial guidance, speaks only as of the date on which it is made, and Washington Group undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. The forward-looking statements are necessarily based on assumptions and estimates of management and are inherently subject to various risks and uncertainties. Actual results may vary materially as a result of changes or developments in social, economic, business, market, legal, and regulatory circumstances or conditions, both domestically and globally, as well as due to actions by customers, clients, suppliers, business partners, or government bodies. Performance is subject to numerous factors, including demand for new power generation and for modification of existing power facilities, public sector funding, demand for extractive resources, capital spending plans of customers, and spending levels and priorities of the U.S., state and other governments. Results may also vary as a result of difficulties or delays experienced in the execution of contracts or implementation of strategic initiatives. For additional risks and uncertainties impacting the forward-looking statements contained in this news release, please see "Note Regarding Forward-Looking Information" and "Item 1A. Risk Factors" in Washington Group's annual report on Form 10-K for fiscal year 2005. SOURCE Washington Group International Inc. News Provided By |
