SRV Yhtiöt Oyj - Company Announcement

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

Espoo, Finland, 2015-08-05 07:45 CEST (GLOBE NEWSWIRE) -- SRV GROUP PLC    
STOCK EXCHANGE RELEASE     5 AUGUST 2015 at 08.45 

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 powerplant 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