June 30, 2016 - 11:30 PM EDT
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Argan, Inc.'s Wholly Owned Subsidiary Gemma Power Systems Completes Two Major Pennsylvania Power Projects

By a News Reporter-Staff News Editor at Energy Weekly News -- Argan, Inc. (NYSE: AGX) announced that its wholly owned subsidiary, Gemma Power Systems, LLC ("GPS"), has achieved Substantial Completion for both the Panda Liberty and Panda Patriot combined cycle power projects in Pennsylvania.

The twin 829 MW projects located in Bradford and Lycoming County, Pennsylvania, are state-of-the-art natural gas-fired facilities that will provide clean, reliable electric power to more than two million homes. These facilities were the first projects to be designed and sited specifically to capitalize on the Marcellus Shale natural gas formation in Pennsylvania.

As previously reported with the Company's first quarter earnings, Panda Liberty achieved substantial completion in April 2016. The Company can now report that its twin project, Panda Patriot, achieved substantial completion on June 14, 2016. Substantial Completion means the facility has been turned over to the owner for commercial operation.

GPS, through a joint venture with The Lane Construction Corporation ("Lane"), was the Engineering-Procurement-Construction contractor for the projects.

"I want to recognize and thank all of the dedicated and creative men and women of GPS and Lane who worked tirelessly on these complex projects and delivered two world class projects to Panda Power Funds," said William F. Griffin, Jr., GPS Chief Executive Officer.

Keywords for this news article include: Oil & Gas, Argan Inc., Natural Gas, Energy Companies.

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Source: Equities.com News (June 30, 2016 - 11:30 PM EDT)

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