TURKEY: Alarko clinches Russian contracts

22 April 1994

The local Alsim Alarko has won two Russian contracts valued at a total of $41 million. They are for a $20 million bank note paper mill in St Petersburg and a $21 million business centre in Moscow (MEED 18:2:94).

Both contracts will be paid for in hard currency on delivery of progress certificates. The client for the paper mill is Goznak, an enterprise run by the Russian Finance Ministry. Alsim Alarko has already installed a water treatment plant at the Goznak complex.

The developer of the business centre is the UK's Mikrodin with the local Mosinterstroy, a subsidiary of Moscow municipality. The project has a total floor space of 20,000 square metres, contained in two blocks of 11 and 10 floors. Two months of design work will start when Alsim Alarko receives a 20 per cent downpayment, to be followed by construction over about 18 months.

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