Shaw wins power plant contract with Saudi Electricity Co.

Baton Rouge, La., June 26, 2012 — The Shaw Group won a new contract to implement a fleetwide services program for Saudi Electricity Co.'s oil and gas-fired power plants throughout the Saudi Arabia.

In April 2010, Shaw one a multi-phase study to define and recommend operational improvements for Saudi Electricity Co.'s fleet of power plants. Under the new contract, Shaw will implement a comprehensive asset management and performance diagnostic program that will address most aspects of 37 operating power plants with a concentration on safety, maintenance, staffing, benchmarking and corporate environmental programs.

The undisclosed value of the contract will be included in Shaw's Power segment's backlog of unfilled orders in the fourth quarter of fiscal year 2012.

Shaw expects to continue expanding its role assisting Saudi Arabia in developing oil, gas and nuclear power to support the kingdom's growing power generation needs. Under a separate previously announced teaming agreement, Shaw, Toshiba and Exelon are pursuing opportunities to provide a full complement of services to design, engineer, construct and operate new nuclear power plants in Saudi Arabia.

The kingdom plans to invest about $112 billion during the next 20 years to build 16 nuclear power units to offset rising domestic energy demand and retain its position as a leading hydrocarbons exporter.

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