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Peter Kiewit Sons Co. (Kiewit) executed a fixed-price construction contract with Plutonic Power Corporation together with its partner, GE Energy Financial Services, for the construction of the 196 MW Toba Montrose run-of-river hydroelectric project, which includes the development of two powerhouses with intakes, penstocks and a corresponding transmission line. The signing of the approximately $500 million engineering, procurement and construction contract allows Kiewit to move ahead to the next stages after the initial rejuvenation and construction of forestry roads and bridges to the powerhouse site that had begun in July 2007.

Finalization of the complete financing package from lenders for this project is scheduled for mid to late October. Commercial operation of the Toba site is expected by mid 2010 and Montrose by late 2010.

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