Argan Bags Engineering & Construction Contracts In Ireland

• Argan, Inc. (NYSE: AGX) has entered into engineering and construction services contracts with the Electricity Supply Board (ESB) to construct three 65 MW aero-derivative gas turbine flexible generation power plants in and around Dublin, Ireland. Financial terms were not disclosed.

• Two of the power plants, Poolbeg and Ringsend FlexGen Power Plants, will be located on the Poolbeg Peninsula, and the Corduff FlexGen Power Plant is to be built in Goddamendy, Dublin.

• All three projects are expected to operate intermittently during peak electricity demand periods and as backup supply options when renewable electricity generation is limited.

• Argan plans to add the value of these contracts to its project backlog immediately.

• Price Action: AGX shares are trading higher by 1.40% at $41.29 on the last check Wednesday.

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