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Gold/Mining/Energy : SNC -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (119)	3/31/2000 2:06:00 PM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 161

SNC-Lavalin to Build Extension of Western James Bay Hydro Grid MARCH 31, 2000 TORONTO, ONTARIO--SNC-Lavalin has been awarded a $48-million fixed price turnkey contract by Five Nations Energy Inc., for the design and construction management of the Omushkego Ishkotayo power transmission line along the western coast of James Bay, and to assist with its operation. The 270-km line will connect the communities of Fort Albany, Kashechewan and Attawapiskat to the main grid at Moosonee. The new transmission line will provide aboriginal communities with efficient and affordable hydro power, replacing the expensive and limited supply of electricity from diesel generators, and will facilitate economic development and reduce air and noise pollution. New jobs will also be created in First Nation communities during and after construction. The project has been made possible through the cooperation of Five Nations Energy, SNC-Lavalin, Ontario Hydro Services and the Department of Indian Affairs and Northern Development. "This represents a significant step in the collaboration between First Nation communities, the private sector and various government departments and funding institutions in working together to develop an energy project of this magnitude," said Jacques Lamarre, President and Chief Executive Officer of SNC-Lavalin. "We are proud to be involved in this important Canadian initiative, delivering solutions to enhance the quality of life in our aboriginal communities." SNC-Lavalin Capital acted as financial advisor for Five Nations Energy in structuring the financing package. The project has an agreement in principle with the banks for financing, which will be provided by the Bank of Montreal, Pacific & Western Public Sector Financing, Northern Ontario Heritage Fund, and SNC-Lavalin. Ontario Hydro Services provided funding through the purchase of the substation in Moosonee and a 79-km portion of the transmission line. 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).