SNC-Lavalin-LED joint venture awarded contract to execute EPCM services on Cobre Panama project
May 22 2012 - 9:00AM
PR Newswire (Canada)
MONTREAL, May 22, 2012 /CNW Telbec/ - A joint venture led by
SNC-Lavalin (70%), and including GyM S.A. (a member of Graña y
Montero Group) (15%) and Techint International Construction Corp
(15%), has received Full Notice to Proceed from Minera Panama S.A.
(MPSA), a subsidiary of Inmet Mining Corporation of Canada, for a
contract to provide detailed engineering, procurement and
construction management (EPCM) services for the project
infrastructure component of the Cobre Panama copper mine in
Panama. The joint venture's scope of services is approximately
US$355 million in fees, and covers project infrastructure estimated
at US$3.2 billion. The overall capital cost of the project is
estimated at US$6.2 billion. The EPCM contract covers
infrastructure related to an open pit mine: supporting
infrastructure related to concentrator and processing facilities,
transmission lines, roads, bridges, camps and port facilities.
"This is a tremendous opportunity for SNC-Lavalin to work with its
joint venture partners, Inmet, MPSA and local stakeholders, to
design and build the project infrastructure for this world-class
copper mine in Panama," said Feroz Ashraf, Executive
Vice-President, SNC-Lavalin Group Inc. "This award builds on our
20-year relationship with Inmet, and reflects their continuing
confidence in our ability to carry out challenging and prestigious
projects for them. We look forward to executing this major project
in Panama." Detailed engineering and procurement will commence
immediately and infrastructure construction
activities are already in progress at the site. The project is
scheduled to be operational in 2016, and the mine is expected to
have a life of approximately 30 years. SNC-Lavalin 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. SNC-LAVALIN CONTACT: Media:Leslie
QuintonVice-President, Global Corporate CommunicationsSNC-Lavalin
Group Inc.514-390-8000, ext.
7354leslie.quinton@snclavalin.comInvestors:Denis
JasminVice-President, Investor RelationsSNC-Lavalin Group
Inc.514-390-8000, ext. 7553denis.jasmin@snclavalin.com
Copyright
SNC Lavalin (TSX:SNC)
Historical Stock Chart
From Jun 2024 to Jul 2024
SNC Lavalin (TSX:SNC)
Historical Stock Chart
From Jul 2023 to Jul 2024