STRABAG wins large-scale Western High-Speed Diameter project in Russia

Vienna, 16 June 2008. The STRABAG-led consortium WHSD-Nevskij Meridian has been declared the winner of the tender for the construction of the Western High-Speed Diameter, a ring motorway around Saint Petersburg, by the city government of Saint Petersburg. This was announced today by the governor of Saint Petersburg, Valentina Matvienko.

Other members of the international consortium are the French construction group BOUYGUES, Germany’s HOCHTIEF PPP Solutions, French PPP specialist EGIS Projects, Russian construction firm Mostoodryad No.19 and the Russian industrial conglomerate Basic Element, owned by Oleg Deripaska.

The contract has an expected volume of roughly € 5 billion. STRABAG’s construction share is approximately € 1 billion. Negotiations over the concession agreement are to take place with the city of Saint Petersburg in the next few months. Construction is expected to begin in spring of 2009.

In a first statement, STRABAG SE Chairman of the Management Board, Dr. Hans Peter Haselsteiner, was pleased with the development: “The Western High-Speed Diameter is the largest and at this time most important infrastructure project in Russia. The fact that the STRABAG-led consortium succeeded in winning this order shows the excellent market position of STRABAG in Russia.”

STRABAG SE is one of Europe’s leading construction groups. With about 63,000 employees, STRABAG expects to generate a construction output volume of € 12.4 billion in the 2008 financial year. From its core markets of Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and on the Arabian Peninsula. STRABAG’s activities span the entire construction industry (Building Construction and Civil Engineering, Transportation Infrastructures, Tunnelling) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com