LATEST NEWS 
February 8, 2010
SNC-Lavalin partners with Russian bank to form engineering company
SNC-Lavalin and the Russian state corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) today announced the formation of VEB Engineering LLC, a Russian company that will be jointly owned by SNC-Lavalin and the Bank.
VEB Engineering will provide technical assistance to the bank and perform technical and budget audits on infrastructure and industrial projects where the bank is providing financing.
“We have had a constant presence in Russia for over 30 years and we are very pleased to be partnering with Vnesheconombank in this new joint undertaking,” said SNC-Lavalin Group Inc. CEO Pierre Duhaime.
“We believe that this new initiative serves our objective to continue to grow our business in Russia in a planned way.”
In other SNC-Lavalin news, the company has been awarded a contract by GASCO (Abu Dhabi Gas Industries Ltd.), a subsidiary of ADNOC, for front-end-engineering and pre-front-end-engineering studies for a nitrogen injection project in Abu Dhabi, UAE.
The contract will also include studies for a nitrogen breakthrough and nitrogen rejection and carbon dioxide recovery and injection project.
The contract has an estimated value of more than $10 million.
JOC News Service
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