Pernix Group, Inc. Announces New Award For Transmission And Distribution Installation In The Solomon Islands
LOMBARD, Ill., Feb. 19, 2013 (GLOBE NEWSWIRE) -- 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 firstname.lastname@example.org or Michael M. Frye Vice President - Power Pernix Group, Inc. Tel: (630) 620-4787 email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV