Bolser starts construction of US$ 13 million, 2.7 Km. underwater river crossing pipeline, the largest pipeline of its type ever built in Bolivia or in South America.
(firmenpresse) -
Bolser starts construction of US$ 13 million, 2.7 Km. underwater river crossing pipeline, the largest pipeline of its type ever built in Bolivia or in South America.
London, 17. September, 2010, 9:00am (GMT). BOLSER PLC., (“BOLSER” ISIN: GB00B3BRH871, WKN: A0Q77H) a leading provider of construction and maintenance of pipelines and processing plants for the oil, gas and mining industry in Bolivia, Peru and Brazil, announces its has started the construction of a 2.7 Km river crossing for a 32” gas pipeline as part of a US$ 13 million contract with GasTransboliviano (GTB).
As previously announced, Bolser and partner TATCO Boring & Installation Est., have successfully started the construction of the 32” gas pipeline spanning 2.7 Km across the Rio Grande River including the following phases: personnel camps installation, horizontal drilling equipment purchase and transportation, materials procurement, inspection and transportation and 42% of 6”and 32”pipeline welding.
The alliance between Bolser, one of Bolivia’s most experienced companies in the construction and maintenance of pipelines, and TATCO, with over 5,000 drilling projects executed, will certainly assist GTB in reaching its objective of crossing the Rio Grande River with the highest technology and safety.
BOLSER’s CEO Pedro Pablo Hinojosa reports that Bolser is very pleased to have started the construction under this $13 million contract. This will be the largest river crossing of its type to ever have been built in Bolivia or in South America. With Bolser’s 41% participation in this project (US$ 5.8 million) Mr. Hinojosa states the project will contribute approximately US$ 1.3 million to the Company’s gross margin over the next 6 month construction phase. With commencement of this historic project and others underway, we expect Bolser meet or exceed our 2010 sales forecasts.
About the Company
Bolser PLC (“Bolser”,) is a UK registered publicly company with its shares listed on the Frankfurt Stock Exchange (ISIN: GB00B3BRH871 - WKN: A0Q77H). Bolser PLC owns 99% of the subsidiary group made up of 3 companies operating in Bolivia, Peru and Brazil. Bolser Ltd., (Bolivian Oil Services Ltda.) was founded in 1975 by the Hinojosa family. The Company and its more than 300 employees has been a long time leader in the oil, gas and mining infrastructure construction industry. Bolser is a specialist in the construction and maintenance of pipelines, roads, bridges, manufacturing and storage sites of various types. The Company is known by its clients for its excellence in the application of quality, health, safety and environment systems with international standards such as ISO 9001:2000, ISO 14001:2004 and OSHAS 18001:1999. Bolser has a thorough understanding of the logistical characteristic of the region and is currently focused on participating in the expansive demand for oil and natural gas infrastructure of the Southern Cone, specifically in Bolivia, Brazil and Peru.
Further information can be found on Bolser website under: www.BolserPlc.com or www.BolserLtd.com
Disclaimer
This press release contains forward-looking statements based on beliefs of Bolser Plc management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of Bolser as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Bolser disclaims any intention or obligation to update these forward-looking statements.
Contact Information Bolser Plc. - Registered in England & Wales ir(at)BolserPlc.comVintners Place
www.BolserPlc.com68 Upper Thames Street
IR-Kontakt Deutschland: London EC4V 3BJ, United Kingdom
Connecting Markets GmbH U.K Company No. 05140206
Telefon: +49 (0)69 21 65 59 10
Fax: +49 (0)69 21 65 59 11
Leseranfragen:
Bolser PLC
Vintners Place
68 Upper Thames Street
London EC4V 3BJ, United Kingdom
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Datum: 13.09.2010 - 13:25 Uhr
Sprache: Deutsch
News-ID 25182
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