LITGRID turtas AB - Notification on material event

Contracts with Suppliers of Cable and Converter Stations for NordBalt Electricity Interconnection Signed

Vilnius, Lithuania, 2010-12-22 17:33 CET (GLOBE NEWSWIRE) -- On December 17,
2010 Swedish and Lithuanian electricity transmission system operators Svenska
Kraftnät and LITGRID Turtas AB signed a contract valued at EUR 270 million (LTL
932 million) with ABB company, which will manufacture and install a 300 kV HVDC
cable for the electricity interconnection NordBalt. 

On December 20, 2010, a contract for construction of converter stations for the
electricity interconnection NordBalt was signed in Stockholm. The ABB company,
which was awarded a contract, will manufacture and install current converter
stations in Nybro (Sweden) and Klaipėda. The contract is valued at EUR 147
million (LTL 507 million). 

The international public tenders were held in accordance with the Swedish
public procurement law. The tenders were performed by the transmission system
operators of Lithuania and Sweden. 

The European Union has approved the financial support of EUR 175 million to
NordBalt project. The bulk part of these funds - EUR 131 million will be used
for the construction of the link, the rest - for the reinforcement of Latvian
electricity transmission system. 






         Vilija Railaitė
         Head of Communications
         LITGRID turtas AB
         Phone + 370 5 278 2361