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Centrax wins contract in Bulgaria

10 November 2006 -- Centrax Gas Turbines of the United Kingdom has recently made its first sales in Bulgaria with contracts with two companies, Kostenez HHI JSCo and Polimeri PLC, both majority subsidiaries of FIC AKB Fores Holding PLC, listed on the Bulgarian stock exchange.

Each company will install two Rolls-Royce powered Centrax generator sets for CHP all of which will be maintained by Centrax under a long-term comprehensive maintenance contract.

Both Bulgarian companies have decided to be energy independent and have implemented these CHP projects, the majority of which is financed by the Austrian Leasing Bank branch in Bulgaria "Hypo Alpe Adria Leasing" on a five-year leasing deal. The deal is also part of a joint implementation carbon emission reduction trading arrangement with the Dutch Government and provide additional income to both customers.

Kostenez HHI is a paper producing company located in the southern central part of Bulgaria, about one hour from the capital, Sofia. The company makes mainly tissue paper and has recently bought a new tissue machine from Italy. As the number of paper machines in operation increases, so significantly more steam will be required than is currently being produced at the mill, and their current use of heavy fuel oil is very expensive. The company is in the process of installing a new gas supply line that will be available by the end of next May in time for the new tissue machine.

Centrax will supply a new 501-KB5 generator set and a second 501-KB5 package with the loan of a spare engine and gearbox. The spare engine and gearbox will be exchanged for new equipment after four years from initial startup.

The balance of plant at Kostenez includes two waste heat recovery boilers, ductwork, deaerator, exhaust stacks and water treatment plant for water injection as a means of emission control. Completion is scheduled for early December 2007.

Polimeri PLC is a chemical producing company located in Devnya, about half an hour from the tourist area of Varna on the Black Sea coast. The company makes acids, including caustic soda, hydrochloric acid, chlorine, ethylene dichloride, salt compounds, ferric chloride and others.

The company has decided to be less dependent on the supply of thermal energy from the local utility and will now install two 501-KB7 generator sets in a mirror arrangement as for Kostenez.

Balance of plant also includes two waste heat recovery boilers for the production of superheated steam at two different operating pressures, ductwork, deaerator, exhaust stacks and water treatment plant for both boiler feedwater and water injection. Handover of the Polimeri installation is due by early November 2007.




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