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

To: Gilbert Drapeau who wrote (121)	5/9/2000 2:16:00 PM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 161

SNC-Lavalin Obtains Water Resources Management Contract in Venezuela MAY 9, 2000 MONTREAL, QUEBEC--SNC-Lavalin has signed a US$63 million with the Venezuelan Ministry of Environment and Renewable Natural Resources to provide goods and services for a comprehensive conservation and water management program in the Cojedes River Basin in northwestern Venezuela. The project is a key component of the Venezuelan government's master plan to protect the environment and improve the quality of life for the inhabitants within the Cojedes River Basin, and plays an important role in the conservation of the Apure-Orinoco river system downstream. It will encompass erosion and flood control works, waste and potable water distribution and treatment systems, pressurized irrigation systems and related infrastructure. SNC-Lavalin has been present in Venezuela since 1975, and has carried out projects in the development of hydraulic resources in various regions. In 1999, the company won two major new awards: a turnkey contract by Sincor to build a main station and cluster of wells in the Orinoco heavy oil development, and the engineering, procurement, construction and project management of the first phase of a waste water collection treatment system in Trujillo State. Financing for this new contract has been arranged by SNC-Lavalin Capital Inc., a wholly owned subsidiary of SNC-Lavalin, through Export Development Corporation (EDC) of Canada and Paribas Bank, supported by a partial guarantee from the Export-Import Bank of the United States. Standard Chartered Bank and Fortis Bank are participating banks. 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).