US$ 650 million contract cancelled at SNC Lavalin

By Helen Wright27 December 2012

SNC-Lavalin building

SNC-Lavalin building

A developer that awarded a US$ 650 million contract to Canadian contractor SNC Lavalin in November 2011 has terminated the deal.

SNC Lavalin said the project – to construct a froth treatment plant in Fort McMurray, Alberta, Canada as part of an oil sands development – would be de-booked from its fourth quarter 2012 backlog. It added that it did not expect its earnings to be impacted as a result.

The contractor said it had received a notice of termination for convenience from its client. At the time that the contract was awarded last year, SNC Lavalin said construction was scheduled to begin in February 2012.

Latest News
Diamond Scaffold Services retains merger-and-acquisition specialist for its sale
Southern scaffolder with a seasoned management team and solid workforce plans a sale to properly capitalize the business to continue its growth strategy
Webuild has US$12 billion Australian order backlog after acquisition
Deal means that WeBuild take on staff and order backlog from Australian engineering and construction company
Weak housing demand prompts turnaround plan for Skanska and Ikea’s modular homes arm
Weakening demand for affordable housing has prompted Skanska to launch a turnaround plan for its modular homes arm BoKlok, which it runs in partnership with Ikea.