7 December 2012
On December 6, GC Stroytransgaz and GC Gorkapstroy signed a framework agreement on cooperation in engineering and technical supervision of construction.
Under the agreement, GC Stroytransgaz is to acquire 25% share in SPV that owns 100% share in Gorkapstroy LLC. The agreement also provides for an option for the additional 25% share in SPV. Stroytransgaz will be able to exercise the right to option after two years of the date of 25% share purchase and throughout the entire period of the project company’s activity.
The Parties will define the procedure of SPV managing bodies’ election during two months after the signing of the framework agreement.
Stroytransgaz intends to gradually extend its presence in the industrial and civil construction market.
“The signed agreement is an important step in developing effective cooperation with our partners in this field,” Vadim Gurinov, President of PJSC Stroytransgaz, pointed out.
Additional information:
PJSC Stroytransgaz is one of major Russian construction companies that implements projects in oil and gas, power, industrial, and civil construction both in Russia and abroad. The company's branches work in nine regions of Russia and fourteen foreign countries.
Gorkapstroy LLC specializes in engineering services and works as a technical customer for the construction of roads, urban utilities, residential houses, cultural and social facilities, and religious facilities. At present, the company’s order portfolio includes over seventy facilities on the territory of Moscow, Moscow Region, Solovetsky Islands, and Holy Mount Athos.