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SNC-Lavalin wins $355 million Panama contract

Wednesday, May 23, 2012


A joint venture led by Montreal engineering giant SNC-Lavalin has obtained a contract to provide detailed engineering, procurement and construction management services for the project infrastructure component of Inmet Mining's (IMN.T) Cobre Panamá copper mine in Panama.

SNC-Lavalin owns 70 percent of the joint venture, which includes GyM and Techint International, each with a 15 percent stake. The joint venture's scope of services is about $355 million in fees, and covers project infrastructure estimated at $3.2 billion.

The Cobre Panama project, which is expected to start up in 2016, has an overall estimated cost of $6.2 billion.


Source: Dow Jones