Strabag may submit bid for roughly 2.1 bln usd Sochi road project UPDATE |
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Published
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Tue, 24 Jul 2007 13:06
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(updates to add comments from company spokesman)FRANKFURT (Thomson Financial) - Strabag SE may bid for a Sochi road project worth roughly 2.1 bln usd, a company spokesman told Kommersant.However, when contacted by Thomson Financial News the spokesman added that Strabag will not take a decision on which Sochi tenders it will seek to win until the end of next month.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.The Strabag spokesman said the two companies might submit a joint bid for the project.'If we bid, then it is quite possible that we will do so together with Transstroi,' the spokesman told Thomson Financial.alfred.kueppers@thomson.comamk/lce/amk/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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Strabag may submit bid for roughly 2.1 bln usd Sochi road project 