SNC-Lavalin/Cintra Awarded 407 East Highway Project in Ontario

    




 MONTREAL, May 23, 2012 /CNW Telbec/ - SNC-Lavalin  is pleased  to announce that 407 East Development Group General Partnership ("the  Partnership"), a new 50/50 joint venture between SNC-Lavalin and Cintra  Infraestructuras' respective subsidiaries, has been awarded a contract  by the Province of Ontario to design, build, finance, and maintain  Phase 1 of the new Highway 407 East. The project will be delivered  using Ontario's alternative financing and procurement (AFP) delivery  model. The contract is worth approximately $1 billion (net present  value). 

 "We are pleased to have been awarded this very important highway project  in Ontario," said Gilles Laramée, Executive Vice-President and Chief  Financial Officer, SNC-Lavalin Group Inc. "Once completed the highway  will allow for a better and more efficient transportation and flow of  goods between Toronto and eastern Ontario." 

 The 407 East Development Group General Partnership has entered into a  fixed-price contract with the Province of Ontario for the project.  Phase 1 of the new highway will extend 22 kilometres east from Brock  Road in Pickering to Harmony Road in Oshawa.  It also includes a  10-kilometre north-south highway, east of Lake Ridge Road, connecting  Highway 407 East to Highway 401. 

 "With this award, SNC-Lavalin's capabilities will be put to work on a  large and complex construction project," said Charles Chebl, Executive  Vice-President, SNC-Lavalin Group Inc. "We are committed to the Ontario  market, and look forward to working with our design-build partner  Ferrovial to deliver sustainable transportation infrastructure to the  province." 

 The design and build portion of the contract is expected to take  approximately 3 1/2 years. Once completed, the Partnership will  maintain and rehabilitate the road for 30 years. The Partnership has  entered into a fixed price contract with a 50/50 consortium made up of  SNC-Lavalin Operations and Maintenance and Cintra for the maintenance  and rehabilitation of the road over the concession period. 

 "We have significant experience providing operations and maintenance  services for roads across Canada," said Charlie Rate, Executive  Vice-President, SNC-Lavalin Group Inc.," and we look forward to  combining our expertise with that of our partners to provide added  value over the 30-year contract."  

 SNC-Lavalin has been present in Ontario since the 1960s, and now has  approximately 5,000 employees in the province working out of 13  offices. 

 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 40 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. [e-mail]:Denis Jasmin Vice-President, Investor RelationsSNC-Lavalin Group Inc.514-390-8000, ext. [e-mail] 


    

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