MONTREAL, July 29, 2010 /CNW Telbec/ - SNC-Lavalin Construction is pleased to announce that, in joint venture with Saudi Tabreed, it has been awarded a design, build and operate contract by Rayadah Investment Company (RIC) for a district cooling system to serve the King Abdullah Financial District (KAFD) in Riyadh, Kingdom of Saudi Arabia. RIC is a Saudi public company owned by the Saudi Public Pension Agency (PPA).
As part of the contract, SNC-Lavalin Construction is responsible for the design and construction of two district cooling plants, each with a capacity of 50,000 RT (176 MW).
"We are delighted with this second district cooling contract awarded to us in the Kingdom of Saudi Arabia," said Riadh Ben Aïssa, Executive Vice-President, SNC-Lavalin Group Inc. "We have been working in Saudi Arabia for over 20 years, mainly in the oil and gas sector. This contract not only reflects our strategy to bring the full spectrum of our worldwide expertise to the Kingdom, and other high-growth potential countries, but also attests to SNC-Lavalin's world class leadership in the district cooling field."
Engineering work on the project is already underway, with construction of the main civil works scheduled to commence in the third quarter of 2010. The completion date is expected in July, 2012.
SNC-Lavalin (TSX:SNC) is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com.
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