 
ABB in consortium to run South Australia’s
power transmission network
Zurich, Switzerland, September 20, 2000 – Global
technology group ABB said today it is part of a consortium
selected by the State of South Australia to operate
and maintain a high-voltage power transmission network
in the State under a long-term lease agreement.
The consortium members are ABB, Queensland Electricity
and Transmission Company (operating as Powerlink),
and Macquarie Bank Limited. The consortium will operate
and maintain the power transmission network –
including some 5,500 kilometers of transmission lines
- under the existing ElectraNet name. ABB said it
is a 19.5 percent owner of ElectraNet SA, corresponding
to an equity investment of US$ 10 million. The transmission
system is the last electricity asset to be privatized
in South Australia.
ABB said the consortium will form a new operating
company to be called Transmission Asset Management
and Services Co. (TAMSco). TAMSco will take on an
eight-year operation and maintenance contract, with
an option to extend the contract another five years.
ABB added it expects to see both a good return on
its investment as well as sales of equipment and services
from it Power Transmission and Power Distribution
segments. ElectraNet expects to invest more that US$
100 million to expand and upgrade the network over
the next four to five years in areas related to ABB’s
businesses.
Earlier this month, ABB won a US$ 150-million order
to design, maintain and upgrade the Telecommunications
Access Network in five of Australia’s States
and territories. The order was placed by Telstra,
Australia’s largest data and telecommunications
company.
The ABB Group (www.abb.com) serves customers in power
transmission and distribution; automation; oil, gas,
and petrochemicals; building technologies; and in
financial services. With novel IT applications, tailored
software solutions, growing eBusiness and a fast expanding
knowledge and service base, ABB is building links
to the new economy. The ABB Group employs about 160,000
people in more than 100 countries. (End)
Original
Press Release at ABB.com
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