LEXINGTON, Mass., Aug. 15 /PRNewswire-FirstCall/--
Raytheon Company (NYSE: RTN) has successfully reached provisional acceptance
for the Red Oak power plant and delivered the facility to its owner, AES Red
Oak LLC, a subsidiary of AES Corporation. As a result, care, custody and
control of the facility has transferred to the owner.
Located in Sayreville, N.J., Red Oak is an 800-megawatt, gas-fired,
combined-cycle power plant. Red Oak is one of four construction projects that
Raytheon is completing as a guarantor following the bankruptcy of Washington
Group International, the company that purchased Raytheon's former engineering
and construction business in July of 2000.
In the second quarter of 2002, another of these projects, the Ilijan power
project in the Philippines, reached power station acceptance and was turned
over to the owner. The company expects customer acceptance of the Ratchaburi
plant, in Thailand, in September. In the company's most recent Form 10-Q,
filed August 14, the company said that it still expects to complete two
Massachusetts construction projects, Fore River and Mystic Station, in 2002,
and that construction milestones and completion cost estimates were unchanged
from its earlier estimates.
With headquarters in Lexington, Mass., Raytheon Company is a global
technology leader in defense, government and commercial electronics, and
business and special mission aircraft.
Contact:
David Polk
781.860.2386
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
David Polk of Raytheon Company,
+1-781-860-2386
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