Imtech: 24.5 million dollar contract for technology solutions in Azerbaijan Shahdag Hotels project

Gouda, (PresseBox) - Royal Imtech N.V. (IM-AE, technical services provider in Europe) announces that its Turkish subsidiary AE Arma-Elektropanç has obtained an order for all technical solutions in the new to build Shahdag Hotels project in the Gusar Region, some 250 kilometres north of Baku, the capital of Azerbaijan. The project is the centrepiece of the largest combined winter/summer tourist resort in the world. For Imtech this order represents a total contract value of 24.5 million dollar.

René van der Bruggen, CEO Imtech: 'In March 2012 we acquired AE Arma-Elektropanç creating a strong position in the Turkish growth market. At the same time, with this strategic acquisition we were able to create stepping stones in emerging markets such as the Middle East, Russia and various former Soviet Republics. Under Imtech's robust financial wings, AE Arma-Elektropanç is able to grow further. The new order for all technical solutions in the new to build Shahdag Hotels project in Azerbaijan is a good example of this further growth. These hotels are the centerpiece of the largest combined winter/summer tourist resort in the world, which will boost quality tourism in this fast growing country.'

The largest combined winter/summer tourist resort in the world

To boost quality tourism in Azerbaijan, the Ministry of Culture and Tourism decided to realise the largest combined winter/summer resort in the world in the northern Gusar region of Azerbaijan. This region is famous for its beautiful nature The Shahdag Hotels project is the centrepiece of this development where tourists can ski and snowboard both winter and summer. To guarantee this, all slopes will be equipped with snow canons. The resort will also boasting tennis courts, football and basketball fields, gaming halls and an aqua park with various swimming pools, shopping plazas, villas and luxury hotels.

Two five-star hotels, total surface area of more than 50,000 m²

The Shahdag Hotels project includes two luxury five-star hotels, the Palace Hotel and the Five Star Hotel. The developer of the project is PASHA Construction LLC, architect is ReardonSmith. Together these hotels will have a total of 332 luxury and spacious suites, rooms and apartments with a total surface area of more than 50,000 m², including restaurants, shops, conference rooms and a spa. The Shahdag Hotels project is situated at a natural plateau which is stretched on 1,640 metres above sea level, 32 km from the regional centre of Kusar. The first phase of the project will be opened at the end of 2012.

All technical solutions

Imtech (AE Arma-Elektropanç) is responsible for all technical solutions in both hotels and adjusting premises, featuring all energy, and electrical and mechanical ((HVAC: Heating, Ventilation and Air Conditioning) solutions, as well the complete sanitary packages and water solutions.

Imtech Deutschland GmbH & Co. KG

Royal Imtech N.V. is a European technical services provider in the fields of electrical solutions, ICT (information and communication technology) and mechanical solutions. With 29,000 employees, Imtech achieves annual revenue of more than 5.1 billion euro. Imtech holds strong positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Austria, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland, Turkey and Spain, the European markets of ICT and Traffic as well as in the global marine market. In total Imtech serves 23,000 customers. Imtech offers added value with integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. Imtech also offers solutions that contribute towards a sustainable society - for example, in the areas of energy, the environment, water and traffic. Imtech shares are listed on the NYSE Euronext Amsterdam, where Imtech is included in the Midkap Index. Imtech shares are also included in the Dow Jones STOXX 600 index.

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