Strabag may submit bid for roughly 2.1 bln usd Sochi road project |
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Published
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Tue, 24 Jul 2007 10:37
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FRANKFURT (Thomson Financial) - Strabag SE may bid for a Sochi road project worth roughly 2.1 bln usd at the end of August, a company spokesman told Kommersant.The newspaper said that Russia's Transstroi is also trying to win the tender, which is part of the city's effort to improve its infrastructure prior to hosting the 2014 Winter Olympics.Russian magnate Oleg Deripaska's Basic Element holds a 30 pct stake in Strabag, and the group is currently in talks to acquire 50 pct of Transstroi, the newspaper wrote.A unnamed source at Basic Element told Kommersant that the two companies could agree to work together on the project if either wins the tender.A Strabag spokesman could not be reached for immediate comment on this option.alfred.kueppers@thomson.comamk/lceCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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