Argan, Inc.’s Wholly Owned Subsidiary Gemma Power Systems California Signs Updated EPC Contract for $220 Million Peaking Power Project

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ROCKVILLE, MD – Argan, Inc. (NYSE AMEX: AGX) announced that its wholly owned subsidiary, Gemma Power Systems California (GPS), has signed an updated engineer-procure-construct (EPC) contract with CPV Sentinel for an approximately $220 million contract to design and build an 800 MW, eight-unit simple cycle peaking power plant in Southern California.