Wärtsilä Corporation (OMX: WRT1V) has received a 155 million Euro turnkey order to supply a gas-fired power plant to Dominican Republic. The supply includes 12 dual fuel Wärtsilä 50DF engines, which can run on both liquid fuels and on natural gas, as well as full engineering, procurement and construction contract for the project.
The contract was signed with Barrick Gold to provide electricity to Pueblo Viejo gold mine, where Barrick Gold is the operator with 60% interest and Goldcorp owns the remaining 40%. The region of the mining project experienced significant rainfall in May this year, which caused a need for new investments to be made. Barrick Gold has been anticipating incremental capital costs of around 0.3 billion USD in total for the power plant.
Wärtsilä has previously done two plants projects for the global gold mining giant Barrick Gold. Wärtsilä also has a strong presence in Dominican Republic even prior to this major deal. The shares seems set to open up around 2%.
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