The largest construction company in Central and Eastern Europe, Austria-based STRABAG, has announced that it has been awarded contracts for the construction of two mills in Russia.
The first contract was awarded by the Russia-based Ural Mining and Metallurgical Company, which has granted STRABAG a €150 million contract for the construction of a new turnkey steelworks in Tumen, Western Siberia. The new mill will have a capacity of 550,000 metric tons per annum and is expected to be completed by April 2010.
Meanwhile, the second contract was received from Russia's United Metallurgical Company (OMK) for the construction of the plate mill-5000 at its Vyska subsidiary. The contract is worth €334 million, while the project is expected to be completed by June 2010.
STRABAG was able to negotiate cost-plus-fee contracts for both projects.