Chicago Bridge & Iron To Construct LNG Terminal for Electric Power Project in Dominican Republic.

Business Editors

PLAINFIELD, Ill.--(BUSINESS WIRE)--Oct. 4, 2000

Chicago Bridge & Iron Company N.V. (NYSE & AEX: CBI) has been awarded a contract valued in excess of US$50 million to construct a turnkey liquefied natural gas (LNG) import terminal that will supply gas to an electric power plant being built in the Dominican Republic. The facility, known as AES Andres, will be owned and operated by AES Corporation of Arlington, Va.

CB&I's work scope includes the engineering, fabrication, construction and commissioning of an LNG import terminal consisting of ship unloading facilities, a 1 million barrel (160,000 cubic meter) LNG storage tank and a regassification system. The Company's work scope also includes associated civil, mechanical, electrical and piping work. The AES Andres facility, valued at US$340 million, will be located 30 km east of Santo Domingo and, when completed, will consist of a 300 megawatt gas- fired combined cycle electric power plant along with the LNG import terminal.

Engineering and field work for the project are under way. Completion of the LNG import terminal is expected in 2002.

"Chicago Bridge & Iron is pleased to have been chosen by AES for this unique project in the Dominican Republic," said CB&I Chairman, President and CEO Gerald Glenn. "Our substantial experience in low temperature and cryogenic storage terminals, as well as our global project execution ability, will enable us to bring value to this project from engineering through installation to final commissioning."

CB&I is a global engineering and construction company specializing in the design and engineering, fabrication, field erection and repair of bulk liquid terminals, storage tanks, process vessels, refrigerated storage and process systems, and other steel plate structures and their associated systems. Information about Chicago Bridge & Iron is available from the Company's Web site at www.chicagobridge.com.