UNR Holdings Announces Signing Multiple Contracts with Gazprom Subsidiaries to Supply Prudon 494 for the Sahalin Habarovsk-Vladivostok Gas Pipeline
SAHALIN -HABAROVSK-VLADIVOSTOK PIPELINE COST ESTIMATED AT OVER 1.5 BILLION USD
SIX MONTHS CONTRACTS for 8.7 MILLION USD (235 MILLION RUBLES @ 1x27 EXCHANGE RATE)
UNR COLLECTED 7,142,857 USD ON THE DELIVERED MATERIALS (200 MILLION RUBLES @ 1x27 EXCHANGE RATE)
ORLANDO, Fla., July 19, 2011 /PRNewswire/ -- UNR Holdings, Inc. (OTCBB: UNRH) ("UNR" or the "Company"), a housing and commercial construction company which also provides infrastructure construction services for government oil and gas projects in Russia, today announced that from the beginning of the year it signed multiple contracts Gazprom subsidiaries in amount of ~ 8.7 million USD. The Company has collected $7,142,587 on the delivered material to date.
The Sahalon –Habarovsk-Vladivostock project is a part of the Russian Federation budget, to be undertaken by Gazprom Corporation and consists in laying out a gas pipe-line from Sahalin to Vladivostok in far East Russia. The pipe is expected to have a length of 2,035 km (1,264,490) with a total cost of 24 billion USD. There are 50 billion russian rubles (1.7 billion USD) expected to be invested in the project since 2009; the project is to be completed by 2012.
Alexey Kim, CEO of UNR Holdings, stated: "We are very excited to start providing our exclusive Prudon-494 patented slope reinforcement road base material for the Sahalin-Habarovsk-Vladivostok gas pipeline. We expect to be signing new contracts on continuing delivery of the Prudon 494 for the pipeline that is expected to be completed by the end of next year."
About UNR Holdings, Inc.
UNR Holdings is a holding company that has a 68% ownership in its subsidiary, 494 UNR. 494 UNR is a diverse construction company with more than 40 years of success serving the Russian construction market. The Company specializes in general and infrastructure construction services, such as designing and building multi-story apartment buildings for middle and upper middle class families, office buildings, highways, bridges, and production of a road base infrastructure construction product. While UNRH is involved in complex construction projects, the Company also assists the Russian government with infrastructure projects for oil and gas corporations, such as GAZPROM and TRANSNEFT. 494 UNR is one of the oldest and most established construction companies located and operating in Moscow and the Moscow area of the Russian Federation.
More detailed information on the housing projects is available at the UNR Holdings corporate website: www.unrholdings.com
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
At the company:
Mr. Serguei Melnik, Vice President
UNR Holdings, Inc.
SOURCE UNR Holdings, Inc.