Wärtsilä - Company Announcement

Wärtsilä to deliver another major power plant to Pakistan - value of the deal EUR 137 million

Wärtsilä Corporation Company Announcement 23 March 2009 at 9.45 local
time

Wärtsilä has received another major order from Pakistan. The order
was placed by Liberty Power Tech Ltd. which is an independent power
producer (IPP). The value of the contract is approximately EUR 137
million. The total gross electrical power output of the power plant
is 200 MWe and the plant will be located near Faisalabad some 200 km
west from Lahore.

The power plant is due to be commissioned in December 2010 and it
will supply electricity to the country's national grid. This order
follows three other IPP projects signed by Wärtsilä in 2007 and 2008.
Including these last four orders the total generating capacity
delivered by Wärtsilä to Pakistan will exceed 1700 MWe.

The Liberty Power Tech combined cycle solution is an EPC
(engineering, procurement and construction) order and it will
comprise eleven Wärtsilä 18V46 generating sets. In addition to the
equipment supply, Wärtsilä will also erect, test and commission the
plant and provide local construction supervision. An O&M contract to
operate and maintain the power plant is also under negotiation
between Wärtsilä and the customer."Wärtsilä and Liberty Power Tech have worked together as one team
throughout the development of the project. The need for power
generation and energy production is growing rapidly in Pakistan. With
Wärtsilä's strong support and advisory services we have been able to
arrange the financing for the power plant project," says Mr Ashraf
Mukaty, Sponsor Director of Liberty Power Tech Ltd. The company is
owned by Salim Mukaty and his family, who also own Liberty Mills, one
of the leading textile groups in Pakistan.

The Liberty Power Tech power plant will have a notably high overall
efficiency of 45 percent for the lifetime of the plant when running
on heavy fuel oil at site conditions. This level of efficiency on
low-cost fuel oil will enable the generating costs to be very
competitive."We are especially pleased to have been awarded this project
contract, and look forward to serving Liberty Power Tech throughout
the lifecycle of the project. This order endorses not only the
reputation of the Wärtsilä equipment, but also the service capability
that we are able to provide from our office and workshop in Lahore,"
says Nomi Ahmad, Regional Director, Middle East, Wärtsilä Power
Plants.

Liberty Power Tech has signed a Power Purchase Agreement with the
National Transmission & Despatch Company, and an Implementation
Agreement with the Government of Pakistan under the 2002 Energy
Policy of Pakistan.


www.wartsila.com


For further information, please contact

Mr Christoph Vitzthum
Group Vice President
Wärtsilä Power Plants
Tel: +358 10 709 5670
christoph.vitzthum@wartsila.com

Mr Atte Palomäki
Group Vice President, Communications
Wärtsilä Corporation
Tel: +358 40 547 6390
Email: atte.palomaki@wartsila.com


For investor information, please contact:

Ms Josephine Mickwitz
Director, Investor Relations
Tel: +358 400 784 889
josephine.mickwitz@wartsila.com


Wärtsilä in brief
Wärtsilä enhances the business of its customers by providing them
with complete lifecycle power solutions. When creating better and
environmentally compatible technologies, Wärtsilä focuses on the
marine and energy markets with products and solutions as well as
services. Through innovative products and services, Wärtsilä sets out
to be the most valued business partner of all its customers. This is
achieved by the dedication of close to 19,000 professionals manning
160 locations in 70 countries around the world.