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Press Release

Technip and Hatch joint venture awarded Koniambo nickel project in New Caledonia

January 19, 2006

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Paris, January 19, 2006

Technip, in joint venture with Hatch, has been awarded by Falconbridge Limited the project for the construction of the Koniambo nickel smelter unit located in the New Caledonia’s Northern Province, near Kone. Koniambo is one of the world’s largest and highest-grade undeveloped nickel and laterite deposits. The planned smelter will have an annual production capacity of 60,000 tons of ferrous nickel alloy.

The EPCM contract, valued at over US$ 250 million, includes the engineering for the overall investment, as well as procurement and construction project management services.

The engineering will be carried out by Technip and Hatch’s engineering centers.

Facilities at this world-class nickel operation will include the laterite mine and ore-transport facilities, a pyro-metallurgical ore processing plant with associated utilities, a coal-fired power plant and other infrastructures. The overall investment in the Koniambo project will total about US$ 2.2 billion.

Construction is scheduled to begin in 2007 with the earliest production start-up targeted for 2009/10.

Daniel Valot, Chairman and CEO for Technip stated, ”Technip is very proud to be part of the Koniambo project. We of course realize how important this project is for France and the New Caledonian people. We have worked with Hatch on this project for several years and believe we can deploy the best both companies can offer”.

Kurt A. Strobele, CEO for Hatch stated, ”Hatch sees Koniambo as a great opportunity for Falconbridge and we are proud to be part of it. Hatch clearly understands how important the development of this opportunity is for Falconbridge and the New Caledonian people".

 

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About the companies:

Technip
With a workforce of more than 20,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group's main operations and engineering centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction.

Hatch
Hatch is one of the world’s foremost consulting, engineering and project management firms for the mining/metals, energy and infrastructure industries. It is particularly known for the development and implementation of new metallurgical process facilities. Hatch is an employee-owned company with a workforce of more than 6,500 in 80 offices on six continents. From it’s major hubs located in Mississauga and Montreal Canada; Brisbane; Perth, and Wollongong, Australia; Santiago, Chile; and Johannesburg, South Africa Hatch provides a wide variety of professional services.

 
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