THE SHAW GROUP (SHAW)

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BATON ROUGE, La.--(BUSINESS WIRE)--The Shaw Group Inc. (NYSE: SGR - News) today announced it has signed a strategic cooperation agreement with China’s State Nuclear Power Technology Corporation (SNPTC). The agreement is a task-order based contract, which allows both companies to issue tasks to support each other in growing nuclear infrastructure businesses.

This cooperation agreement fulfills the goals of a letter of intent between the two organizations. The signing, held in Washington, D.C., on April 27, was one of many agreements concluded between U.S. and Chinese firms organized by the China Chamber of Commerce for Import Export of Machinery and Electronic Products and the United States Chamber of Commerce.

“China has announced plans to build at least 30 new nuclear power plants by 2020. This cooperation agreement is a significant step toward expanding Shaw’s already strong relationship with SNPTC to facilitate the greater use of nuclear power throughout China,” said David Barry, president of Shaw’s Nuclear Division of the Power Group.

Shaw currently is under contract with SNPTC and other Chinese organizations to provide engineering, procurement, commissioning, information management and project management services for four AP1000™ nuclear plants being built at the Haiyang nuclear power plant project in China’s Shandong province and the Sanmen nuclear power plant project in Zhejiang province.