Russian Railway Contract (6570T)
09 12월 2011 - 4:00PM
UK Regulatory
TIDM50ML
RNS Number : 6570T
Obrascon Huarte Lain, S.A.
08 December 2011
London Stock Exchange
Madrid 08 December, 2011
Ref.: Notification of Significant Event: Russian Railway
Contract
Dear Sirs,
The company, OBRASCON HUARTE LAIN, S.A. (OHL), in compliance
with current legislation, hereby reports the following Significant
Event:
The Company advises that OHL's Czech subsidiary, OHL ZS, a.s.,
in which OHL holds a net stake of 88.01%, has signed a contract
with OAO Jarmalskaja Zeleznodoroznaja kompanij, SA, a publicly
owned company, in which Russian Railways, Gazprom and Ural
Industrial Corporation (which brings together various Russian
Public Administrations) hold a stake of, for the construction of
the railway line between Obskaja, Salechard and Nadym, including a
bridge over the river Ob.
The initial budget of the contract is of 1.5 billion euros and
the execution period is of 4 years.
It is expected that the project will count with an 800 million
euros financing granted by the Czech Export Bank, and it is also
expected that the rest of the financing, until completing the full
investment of the project, will be funded by first class Russian
financial institutions (to be determined) and the Russian
State.
The contract is subject to usual conditions typical in these
projects, and is expected to come into force in the year 2012.
Yours faithfully,
Jose Maria del Cuvillo Peman
Vice-Secretary of the Board of Directors
This information is provided by RNS
The company news service from the London Stock Exchange
END
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