SNC Lavalin, one of Canada’s largest construction and engineering groups, has created a new company jointly owned by Russian development bank Vnesheconombank (VEB).
Moscow: Red Square
SNC Lavalin’s president and chief executive, Pierre Duhaime, said the new partnership was part of the company’s ongoing expansion in the Russian market. Recently, the company acquired a 48 percent holding in Russia engineering company Vnipineft, which focuses on gas processing, oil refining and chemicals.
The Canadian group has offices in 35 countries around the world and is currently working in some 100 countries.