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SNC-Lavalin signs venting systems contract

MONTREAL - SNC-Lavalin (TSX:SNC) says its nuclear subsidiary has been awarded a $48 million contract to install reactor venting systems at the Cernavoda power plant in Romania.

MONTREAL - SNC-Lavalin (TSX:SNC) says its nuclear subsidiary has been awarded a $48 million contract to install reactor venting systems at the Cernavoda power plant in Romania.

The Montreal-based company said Tuesday that engineering and procurement activities are under way and construction is scheduled to begin immediately.

It expects to work under the contract from Societatea Nationala Nuclearelectrica will be completed in late 2013.

"This project is part of an industry-wide upgrade strategy for nuclear plant safety in the event of serious accidents or natural disasters, such as those that occurred at Fukushima in Japan," said Patrick Lamarre, executive vice-president of SNC-Lavalin Group.

"It also provides a platform for SNC-Lavalin Nuclear to build on its 45 years of experience as opportunities grow in the European nuclear market."

SNC-Lavalin is one of the leading engineering and construction groups in the world, with projects in some 100 countries around the world.

 
 
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