SNC-Lavalin and partners awarded $1.3 billion alliance contract
SNC-Lavalin Group Inc. (TSX: SNC) welcomes the UK 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 km 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 CEO 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 UK’s railway infrastructure.
The Alliance is a fully integrated team working under a single, unified project agreement where decisions are made as a collective who 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.
Information Source: Read Full Release ..–>
Press release by:
