16:30:47 EDT Wed 22 Sep 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2021-02-10 C$ 25.61
Recent Sedar Documents

SNC-Lavalin, partners awarded $1.3B U.K. rail contract

2021-02-10 12:18 ET - News Release

Mr. Harold Fortin reports

SNC-LAVALIN AND PARTNERS AWARDED $1.3 BILLION ALLIANCE CONTRACT FOR THE SECOND PHASE OF KEY TRANSFORMATIVE UK RAILWAY

SNC-Lavalin Group Inc. welcomes the United Kingdom government's commitment to a major new railway program as the project moves into the construction phase. The Department for Transport announced $1.3-billion in funding for construction to begin on phase 2 of the East West rail project, which includes the construction of 65 kilometres of new track, a new overpass, two new stations and 16 bridges between Oxford and Cambridge. SNC-Lavalin's role will include providing multifunctional design, development management, signalling installations as well as power and telecommunications design.

"East West rail, delivered through an alliance agreement, signifies an important step forward in SNC-Lavalin's strategy to deliver major infrastructure programs for our global clients, while leaving the LSTK contracting model firmly behind us," said Ian L. Edwards, president and chief executive officer of SNC-Lavalin. "This model is a great example of how our expertise can help deliver clients' projects, with a balanced and capped level of risk, while working as one. It is a model that is applicable to the whole of our business going forward."

SNC-Lavalin is part of the East West Rail Alliance, a contracting model that shares opportunities and risks with partners and the client but with a capped level of risk. The alliance is made up of SNC-Lavalin's engineering, design and project management (EDPM) business (non-owner participant), Laing O'Rourke (non-owner participant), Volker Rail (non-owner participant) and Network Rail, as the owner and operator of the U.K.'s railway infrastructure.

The alliance is a fully integrated team working under a single, unified project agreement where decisions are made as a collective that share the benefits and risk as the project progresses. Atkins, a member of the SNC-Lavalin Group since 2017, has been working on the project since 2016.

"The U.K. government's commitment to East West rail will allow the alliance to push on, working as a single team with a shared vision realized through trust and collaboration. Once complete, this critical national infrastructure project will play an important part in helping to boost the region's economy -- connecting people, businesses and communities across the region, and enabling future growth and prosperity," said Philip Hoare, president, Atkins, engineering, design and project management, SNC-Lavalin.

The East West rail line is one of the largest new railway projects in the U.K. and will see the track laid on disused railway lines that last carried passengers in 1968. The first trains are expected to run by 2025.

About SNC-Lavalin Group Inc.

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world. SNC-Lavalin connects people, technology and data to help shape and deliver world-leading concepts and projects, while offering comprehensive innovative solutions across the asset life cycle. Its expertise is wide ranging -- consulting and advisory, intelligent networks and cybersecurity, design and engineering, procurement, project and construction management, operations and maintenance, decommissioning and sustaining capital -- and delivered to clients in four strategic sectors: EDPM (engineering, design and project management), infrastructure, nuclear and resources, supported by capital.

© 2021 Canjex Publishing Ltd. All rights reserved.