SNC increases Skikda stake
SNC Lavalin is increasing to 20 per cent its stake in the $450 million project to build a new 725-MW power plant at Skikda. The Canadian firm in June 2003 agreed to take an 11 per cent interest in the project company, Skikda Power Company (SPC), established in May 2003 (MEED 13:6:03). SNC's entry into the shareholding will take place at the end of the year and be accommodated by a sell-down of the 50 per cent stake owned by state power company Sonelgaz and ...
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