RESTON, Va., May 28 /PRNewswire/ -- Under the terms of its Cooperative
Threat Reduction Integrating Contract (CTRIC) Raytheon Company (NYSE: RTN) has
been selected by the U.S. Department of Energy (DOE) to oversee the
construction of a coal-fired power plant in Russia as part of a project to
close down the last three operating plutonium production reactors in Russia.
The contract will be a cost-plus award fee delivery order over the life of the
project. The power plant will provide electricity and heat to the surrounding
communities of Zheleznogorsk, a city in Siberia, replacing an aging nuclear
facility that produces weapons-grade plutonium.
Under the delivery order, Raytheon Technical Services Company LLC (RTSC)
will partner with Fluor Corp., a world leader in the construction of coal-
fired power plants. Fluor will lead the construction and technical management
activities. The team will work with DOE to plan and approve the project
design in phase one. Construction will begin in phase two. The entire scope
of the project is estimated to take eight years. Raytheon will share in a
total of $466 million that the Department of Energy has designated for the
shutdown of these reactors.
"We are excited about winning this contract which is an extension of our
threat reduction activities in the former Soviet Union," said Bryan J. Even, a
Raytheon vice president and president of Raytheon Technical Services Company
LLC. "Our success on this project is enhanced both by our understanding of the
Russian business environment, and by our teaming with a renowned leader of
power plant construction, Fluor Corp., to provide the technical and domain
expertise this project requires."
RTSC has been doing business in Russia and the former Soviet Union (FSU)
since 1988, and continues to perform on a broad range of contracts in the FSU,
including the elimination of bombers and missiles, on-site inspection,
logistics support of Cooperative Threat Reduction programs and construction-
related services.
Raytheon Technical Services Company LLC, a subsidiary of Raytheon Company,
provides technical, scientific and professional services for defense, federal
and commercial customers worldwide. It specializes in management, operation
and maintenance of customer facilities, equipment and systems; logistics and
life-cycle support; overhaul and repair depot operations; engineering,
logistics and personnel support; space and earth sciences; test and training
range support; and privatization of government services.
Raytheon Company, with 2002 sales of $16.8 billion, is an industry leader
in defense, government and commercial electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Lexington, Mass., Raytheon employs more than 76,000
people worldwide.
Contact:
Bob Valentine
703.295.2530
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Bob Valentine of Raytheon, +1-703-295-2530
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