Abengoa And Daelim Sign A Memorandum Of Understanding For The Development Of Water Projects

• It lays the foundation for the development of large water projects for 2015

Washington, DC (GLOBE NEWSWIRE) - Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB), the international company that applies innovative technology solutions for sustainability in the energy and environment sectors has signed a MoU (Memorandum of Understanding) in Seoul, last December 3rd, with the South Korean company Daelim Industrial Co. Ltd to develop large water projects all over the world.

This strategic alliance allows the two international companies to combine their respective strengths in different products and markets, creating synergies that confer competitive advantage to undertake future projects in several areas, especially in hydropower, construction of dams and tunneling and water treatment plants.

This MoU represents an international recognition of the wide experience and knowledge in the energy and water sector of Abengoa.

Daelim Industrial Co., Ltd is a Korean company which has two main business units; E&C business and petrochemical business. As the leading general EPC contractor, Daelim Industrial Co. Ltd has continuously completed successfully numerous projects in the fields of civil works, building & housing, as well as plants in over 30 countries. Specifically, Daelim has worldwide experience in technology and construction of dams, hydropower and water management projects. Daelim has successfully completed the longest hydraulic tunnel in domestic market and has been also developing several hydro IPP projects in Asia which expect to achieve financial closes next year.

Abengoa is an international reference company in design, engineering and construction of hydraulic infrastructures, such as the development of a unique project consisting of the water supply project in USA which will supply 170,000 m3/day to San Antonio city, Texas. In Mexico, Abengoa is also executing one of the biggest water projects in the world, "el Acueducto de Zapotillo" which will supply drinkable water to 1.45 million population in Altos de Jalisco y León, Guanajuato, in an efficient and sustainable way.

About Daelim

Daelim's E&C group provides a comprehensive array of services including feasibility studies, project management, engineering, procurement, construction, commissioning & start-up, operation & maintenance, and project financing. The fields covered by Daelim include gas, petroleum refining, chemical & petrochemical, power & energy plants, building & housing, civil works as well as a range of industrial facilities.

Daelim's petrochemical group, as a driving force within the Korean petrochemical industry, continues to provide a complete range of products from basic petrochemicals to highly functional, value-added products. (https://www.daelim.co.kr/eng/main.do)

About Abengoa

Abengoa (MCE:ABG.B/P SM) (Nasdaq:ABGB) applies innovative technology solutions for sustainability in the energy and environment sectors, generating electricity from renewable resources, converting biomass into biofuels and producing drinking water from sea water. (www.abengoa.com)

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