21 May 2013

Award of new projects to ATHENA in the Persian Gulf region

J&P-AVAX SA announces that its subsidiary ATHENA SA, extending its long involvement in the Persian Gulf region, signed in early May 2013 a contract worth €125 million with ALDAR PROPERTIES PJSC of the United Arab Emirates for the construction, operation and maintenance of marine works, along with roadworks, infrastructure and soft landscaping on Yas Island, located east of Abu Dhabi.

The marine works component of the project includes construction of a vertical quay wall, shore protection with rock revetment, a boat launch slipway and a floating pontoon system.

The infrastructure works include excavations & earth-moving, roadworks, sanitary and storm water networks, pumping stations, tap water, irrigation and fire-fighting networks, design and construction of natural gas network, high- and low-voltage power networks, fibre optics and telecoms networks, street & traffic lighting, and their connection to Abu Dhabi’s existing infrastructure systems.

Landscaping works include automatic irrigation system, planting of trees, shrubs and other ground covers.

The project has a 28-month deadline, with an additional 24-month period for the operation and maintenance of all constructions.

Recently, ATHENA SA also signed a €30.1 million contract with the consortium building a nuclear power plant in the United Arab Emirates, for related marine works.

The scope of the works covers the revetment for the intake channel, shore protection of the mixing basin area, the quay wall, the installation of marine equipment and all associated works.

Works towards the project are already under way, towards the project’s 20-month deadline.

ATHENA SA continues the construction of other projects, mostly marine, in the Arab Emirates of Fujairah, Ras Al Khaimah and Abu Dhabi, and stands a good chance of winning several more projects bid for.

Following the signing of the projects described above, ATHENA SA’s work-in-hand is worth around €400 million.

Marousi, May 21, 2013