MONTREAL, May 22, 2012 /CNW Telbec/ - A joint venture led
by SNC-Lavalin (TSX: SNC) (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.
SOURCE SNC-LAVALIN
