The Shaw Group Inc. (NYSE:SHAW) announced it received an arbitration award of approximately $32.5 million for a contract previously executed by its Power segment for the engineering, procurement and construction of a 600-megawatt steam turbine electrical generation plant in the U.S. Shaw will recognize an immaterial gain in the company's earnings in the fourth quarter of fiscal year 2011 and expects to collect cash in the amount of the award.

The Shaw Group Inc. provides technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services to multinational and national oil companies, industrial corporations, regulated utilities, independent and merchant power producers, and government agencies worl

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