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Metrostroy to Lay Tunnel under the Bosphorus
Constructor of Moscow metro, Metrostroy is approaching the market of Turkey. The company will lay a tunnel for a water pipeline under the Bosphorus in partnership with Ingeokom and two constructing firms of Turkey. The project value is estimated at about $120 million.
The consortium of Metrostroy, Ingeokom and Turkish Alke and STFA has won the tender in Turkey for laying a tunnel under the Bosphorus, said Metrostroy Financial Director Leonid Astrin.
The 5.6km tunnel (135m in depth) will be constructed 15km to the north of Istanbul under the Melen project; the construction will cost $120 million, Astrin specified.
The Melen project provides for laying a water pipeline from the Melen river to Istanbul, which lacks drinking water. Funding the first stage is estimated at about $1.2 billion.
The tunnel’s construction will start in a month or a month and a half and completed in 1,200 days. “It is our first experience abroad,” Astrin said, adding they hope to take part in similar projects in other countries as well.
The 100-percent owned by the Property Ministry of Russia, Moscow Metrostroy is the constructor of Moscow metro. It generated 7 billion rubles in the H1 revenues and posted net profit of 7.5 million rubles. Past week, Metrostroy placed 1.5-billion rubles in bonds and the demand exceeded the supply by nearly three fold. The placement was arranged by the Bank of Moscow.
www.kommersant.com
All the Article in Russian as of Oct. 03, 2006
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