Argan, Inc. (AMEX:AGX) announced that its wholly owned subsidiary, Gemma Power Systems (GPS), has signed an engineer-procure-construct (EPC) contract with East Texas Electric Cooperative, Inc. (ETEC) for an approximately $165 million contract to design and build a 49.9 MW, biomass-fired power plant near Woodville, Texas. The Rural Utilities Service (RUS) must issue its approval of the contract and issue its Finding of No Significant Impact (FONSI) for the project prior to full effectiveness of the contract.



GPS has received a limited release to start critical planning and early engineering activities with a full release expected no later than Spring 2012. The project is estimated to be completed in December 2014. Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, stated, “We are pleased to assist in meeting the electricity demands of the citizens of East Texas and ETEC’s member cooperatives. We look forward to working with ETEC toward the successful, on-time completion of this important project.”

Argan, Inc., through its subsidiaries, provides development, consulting, engineering, procurement, construction, commissioning, operations, and maintenance services to the power generation and renewable energy markets for public utilities, independent power project owners, municipalities, public institutions, and private industry. Argan was founded in 1961 and is headquartered in Rockville, Maryland.

The telecommunications infrastructure services of Argan include structuring, cabling, terminations, and connectivity that provide the physical transport for high speed data, voice, video, and security networks, as well as inside plant and premises wiring services comprising AutoCAD design; cable installation; equipment room, and telecom closet design and build-out; data rack and cabinet installation; raceway design and installation; and cable identification, testing, labeling, and documentation services.

Argan, Inc. provides its telecommunications infrastructure services to federal government, and telecommunications and broadband service providers, as well as electric utilities. The telecommunications infrastructure services of Argan also consist of trenchless directional boring and excavation for underground communication and power networks; aerial cabling services; and the installation of buried cable, high and low voltage electric lines, and private area outdoor lighting systems.

For more information about Argan, please visit http://www.arganinc.com

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