MONTREAL, Aug. 15, 2012 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) is pleased to announce that it has been awarded a 10-year contract to operate and maintain the King Abdullah Petroleum Studies and Research Center (KAPSARC) project located in Riyadh, Kingdom of Saudi Arabia. The estimated value of this contract is $135 million.
With a mandate to conduct high-calibre research in energy economics, policy, technology, and the environment, the KAPSARC project consists of three major components: a 65,000 m2 research and office complex, a residential community that will accommodate approximately 1,000 residents, and a utility zone to serve them. This zone consists of a central utility plant with a 5-MW photovoltaic array, water storage tanks, a chilled water plant, a site operations and maintenance building, and transportation operations. SNC-Lavalin will provide integrated facility and community management services to the project.
"We are delighted by the opportunity to be involved in such a state-of-the-art facility," said Charlie Rate, Executive Vice-President, SNC-Lavalin Group Inc. "We continue to solidify our footprint in the Kingdom of Saudi Arabia, a key market for our business." KAPSARC received the first Leadership in Energy and Environmental Design (LEED) for Homes certification outside of North America, and it is the largest residential development project to earn the certification in the world.
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 40 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com