Pernix Group, Inc. Announces New Award for Transmission and Distribution Installation in the Solomon Islands
February 19 2013 - 9:15AM
Pernix Group, Inc. (OTCBB:PRXG) announced today that the company
has been awarded a mandate to install a new 33 KV underground
transmission cable by the Solomon Islands Electricity Authority
(SIEA). The new cable will connect the Lungga Power Station to the
Ranadi Zone sub-station, covering a distance of approximately four
kilometers. The scope of the project includes all civil works, 33
KV high voltage cable and fiber optic cable design and supply,
cable trenches, cable installation, jointing/terminations, and
testing/commissioning.
Pernix Group also announced that it had pre-qualified to bid on
a 14 MW hydroelectric power project on the Tina River in the
Solomon Islands to be built on a build-own-operate-transfer (BOOT)
basis. Final bid deadlines for the project have not yet been
announced.
Nidal Z. Zayed, CEO of Pernix Group stated that, "We are
extremely excited to continue our work in addressing the growing
power and infrastructure needs of the developing economies in the
Pacific region. We have an excellent track record of building and
operating power plants and turnkey utilities in this marketplace,
and we look forward to working with the SIEA to complete this
project on time and on budget. We have an excellent operating team
in the region, and we expect that this is just the first of many
such opportunities for Pernix Group in the region."
Pernix Group Inc. is a global company with its headquarters in
Lombard, Illinois. The company is engaged in two primary business
segments: construction services as a Design-Build General
Contractor in the Federal and Government market; and building,
managing and investing in Power Projects as an Independent Power
Producer. Pernix has full-scale construction and management
capabilities, with current operations in the Middle East and
Africa, and operating subsidiaries in the South Pacific islands of
Fiji and Vanuatu. Pernix Group, Inc. common stock is traded on the
over-the-counter bulletin board (OTCBB) under the symbol PRXG.
Additional information is available at www.pernixgroup.com.
Forward-Looking Statement
Certain of the statements made in this press release are
forward-looking statements within the meaning of the Securities
Litigation Reform Act of 1995. Such statements involve certain
risks and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Potential
risks and other factors that could cause or contribute to actual
results differing materially from such forward-looking statements
are discussed in greater detail in the Company's filings with the
U.S. Securities and Exchange Commission.
CONTACT: Gregg Pollack
Chief Financial Officer and VP Administration
Pernix Group, Inc.
Tel: (630) 620-4787
gpollack@pernixgroup.com
or
Michael M. Frye
Vice President - Power
Pernix Group, Inc.
Tel: (630) 620-4787
mfrye@pernixgroup.com
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