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MK TO PARTICIPATE IN MAJOR POWER SERVICES CONTRACT FOR TENNESSEE VALLEY AUTHORITY

 MK TO PARTICIPATE IN MAJOR POWER SERVICES CONTRACT
 FOR TENNESSEE VALLEY AUTHORITY
 BOISE, Idaho, Dec. 23 /PRNewswire/ -- Morrison Knudsen Corp. (MK) (NYSE: MRN) today announced that a joint venture of MK, Gilbert/Commonwealth Inc. and Union Boiler Co. has entered into a long-term partnering agreement with the Tennessee Valley Authority (TVA) to perform power plant modification and supplemental maintenance work at facilities throughout the TVA's eastern region.
 The total contract award is valued at $80-million per year for the initial three-year contract with two options for extensions of two years each.
 "This is a significant contract in line with our strategy to provide a wide range of services to the power industry," said William J. Agee, MK chairman and chief executive officer. "This is an area where we expect to see substantial market growth in the next decade."
 Facilities in TVA's eastern region include five fossil- fueled power plants with total capacity of 6,700 megawatts, and 28 hydroelectric plants with total capacity of 4,700 megawatts. In all, these facilities incorporate 135 turbine generating units.
 TVA's goal is to increase generating efficiency and eventually to upgrade hydroelectric generation by 210 megawatts. In addition to power plant modification, the work will include support for the TVA's recreational areas, locks and dams.
 The joint venture will employ and manage all craft labor to modify and perform supplemental maintenance, including construction, rehabilitation, modification, removal, replacement and construction testing of components and systems.
 Morrison Knudsen Corp. is an international company serving the environmental, industrial processing, power and transportation markets with complete development, design/engineering, construction, operating and financial services.
 -0- 12/23/91
 /CONTACT: Jess Hawley of Morrison Knudsen Corp., 208-386-5000/
 (MRN) CO: Morrison Knudsen Corp. ST: Idaho, Tennessee IN: CST SU: CON


SC -- SE010 -- 4864 12/23/91 13:24 EST
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Publication:PR Newswire
Date:Dec 23, 1991
Words:299
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