SRV to participate in Fennovoima’s nuclear power plant construction project as project manager and investor

SRV to participate in Fennovoima’s nuclear power plant construction project as project manager and investor

SRV has decided to become a shareholder in the nuclear power plant to be built at Pyhäjoki. SRV has made a financing commitment to Fennovoima’s main owner Voimaosakeyhtiö SF. The financing commitment is equivalent to a 1.8% stake in the Fennovoima project.

As part of the agreement package, SRV has signed a project management agreement with Fennovoima’s plant supplier Rusatom Overseas and the main contractor Titan-2.

“The agreement now signed represents a significant increase in SRV’s operations and further strengthens our position as a pioneer of project management contracting in Finland. This is clearly a major agreement package in the company’s history,” says SRV President & CEO Juha Pekka Ojala.

SRV will operate in the project primarily as project manager, particularly with respect to Finnish partners, together with main contractor Titan-2. The deal requires final approval by Finnish Radiation and Nuclear Safety Authority.

“The project required the participation of a reliable Finnish partner familiar with local legislation and regulations. SRV has strong experience of project management and we have been well acquainted with Fennovoima’s nuclear power plant project for a long time now,” explains Ojala.

Further information:

Juha Pekka Ojala, President & CEO, tel. +358 40 733 4173
Ilkka Pitkänen, CFO, tel. +358 40 667 0906
Päivi Kauhanen, Vice President, Communications, tel. +358 50 598 9560

www.srv.fi

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