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Power company wins 50m contracts

9 February 10 12:34 GMT

A Glasgow firm has won two new contracts worth about £50m to supply energy in Panama and in Oman.

Aggreko's contract with the state utility in Panama will last for a year and involves providing power to support the country's national grid.

The second contract in Oman is to supply power at five sites for at least three months over the summer.

Aggreko provides temporary energy by renting out generators for major events such as the Winter Olympics.

Its chief executive, Rupert Soames, said: "These two contracts underline the global reach of Aggreko, and the ability to deliver power cost-effectively for short periods of time to help utilities overcome temporary shortfalls."

The company employs more than 3,500 people worldwide including about 200 at its Glasgow headquarters.

In the latest stock market reshuffle, Aggreko joined the FTSE 100.

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