Pihl heads extension of Luba Freeport in Equatorial Guinea

Pihl has just won a contract for construction of 110 metres of modern quay facilities in Luba Freeport in Equatorial Guinea for Lonrho Plc.

2007 12 14  Press Release

The extension of Luba Freeport is meant to meet the growing demand for port facilities from the booming oil and gas industry in the Gulf of Guinea. This demand is expected to grow even more over the coming years and planning of yet another extension is envisaged as soon as the new 110 m long extension has been completed.

Since Lonrho Plc’s acquisition of 63% of Luba Freeport in 2006, the port has undergone a significant development and is now the most efficient offshore port in the region. The port is presently handling more than 120 vessels every month and its throughput per metre of quay is well above the average of the world’s offshore ports.

Lonrho Plc is one of the United Kingdom’s most rapidly growing conglomerates within infrastructure, transport and extraction of natural resources and the company’s many projects on the African continent contribute considerably to the development of the African economy. The company is listed on the London AIM stock exchange.

Pihl won the contract of a value of about USD 10.6 m based on a tender, which offered the most significant cost and time efficiencies. Pihl has successfully completed eight projects in Equatorial Guinea in the past; five of them were port projects similar to the Luba Freeport.

Persons to contact for further information:

Jens Frandsen / Jan Therkelsen
E. Pihl & Søn A.S.
Nybrovej 116
2800 Kgs. Lyngby
Denmark
Tel.: +45 4527 7200
Fax: +45 4527 7100
www.pihl-as.dk