SNC-Lavalin Signs Cooperation Agreement in Airport Link
in Moscow
MONTREAL, QUEBEC--JUNE 29, 2000--SNC-Lavalin has entered into a cooperation
agreement with the Government of Moscow for the implementation of
a rapid transit system between Sheremetievo airport and Moscow
International Business Centre, "Moscow-City," and the city centre.
Jacques Lamarre, President and Chief Executive Officer of
SNC-Lavalin and Iossif N. Ordjonikidze, Vice-Premier of the
Government of Moscow, signed the agreement today in Moscow.
The project will proceed in phases. The first phase will comprise
the construction of the section from Leningradsky Terminal to
Mezhdunarodnoye schosse in the corridor of the Oktyabrskaya
Railway, using transfer buses to deliver passengers to
Sheremetievo airport. The Government of Moscow and SNC-Lavalin,
together with Oktyabrskaya Railway, will carry out a
technical-economic analysis and prepare a business and financing
plan for the implementation of the first phase of the project.
The estimated implementation cost of the first phase is $US150
million. Initial studies now underway are being funded by the
Government of Moscow, SNC-Lavalin and the Canadian International
Development Agency. SNC-Lavalin completed the feasibility study
for the project in March 1999.
SNC-Lavalin has been active in Russia since 1976 and has carried
out projects in the chemicals and petroleum sector, as well as in
the construction and development of infrastructure. Mr. Lamarre
is in Russia participating in the trade mission led by the
Department of Foreign Affairs and International Trade, and
attending the fourth meeting of the Canada-Russia
Intergovernmental Economic Commission (IEC). This industry-led
bilateral forum aims to foster trade and economic relations,
investment and the transfer of technology between Canada and
Russia.
SNC-Lavalin Group is one of the leading engineering and
construction firms in the world, and a key player in the ownership
and management of infrastructure. The group and its companies
have offices across Canada and in 30 other countries, and are
currently working in some 100 countries. The company is listed on
the Toronto Stock Exchange (symbol: SNC). |
