UPDATE 1-ABB in Baltic power link deal, shares rise

Tue May 13, 2008 9:35am BST

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(Adds details, shares)

ZURICH May 13 (Reuters) - Swiss engineering group ABB (ABBN.VX) said on Tuesday it had won a contract worth $170 million, part of a power link between Sweden and Finland.

ABB said it would supply two HVDC -- or high-voltage, direct current, converter stations -- for the Fenno-Skan 2 power link as part of an 800 megawatt extension of the existing 550-MW Fenno-Skan 1 link, delivered by ABB in 1989.

ABB won the contract from Svenska Kraftnaet and Fingrid Oyi, the transmission system operators in Sweden and Finland.

ABB shares rose about 2.22 percent to 33.12 Swiss francs by 0825 GMT in an overall firmer Swiss market..SSMI

(Reporting by Sven Egenter)