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June 22, 2005

VT Halter to build catamaran construction barge

VT Halter Marine Inc., a subsidiary of Vision Technologies Systems Inc., has signed a US $16.3 million contract to build a catamaran lift barge for Washington Group International (WGI) and WGI s joint venture partner, Alberici Group.

The vessel will be fitted with special lift equipment that will be used to transport and place precast concrete segments in the U.S. Army Corps of Engineers  Olmsted Dam construction project. .

VT Halter Marine will build two 200 ft x 90 ft x 15 ft units that will be assembled to form the catamaran lift barge. The vessel's configuration will allow it to effectively assist in the Olmsted Dam construction efforts, which will take place near Olmsted, Illinois on the Ohio River. Engineering and procurement will begin immediately and delivery is planned to occur in the seconf half of 2006.

The catamaran lift barge will be in service for approximately 6 years on this project.

Construction will be according to the 2003 ABS Rules for Building and Classing Steel Barges, with regard to structural hull design. The barge will also comply with USCG Rules for navigation and stability.

The Washington Group International/ Alberici Group was awarded the $564 million contract to build the Olmsted Dam during January 2004. Estimated completion of the project is 2012.

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