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| SNC-Lavalin establishes company with Russian bank SNC-Lavalin and the State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' announced the formation of VEB Engineering LLC, a Russian company that will be jointly owned by SNC-Lavalin and the Bank (Vnesheconombank 51% / SNC-Lavalin 49%). VEB Engineering will provide technical assistance to the Bank and perform technical and budget audits on infrastructure and industrial projects where the Bank is providing financing. The State Corporation 'Bank for Development and Foreign Economic Affairs (Vnesheconombank)' was established in 2007 through a reorganization of Vnesheconombank of the USSR and acts in accordance with the Russian Federal Law 'On Bank for Development'. The Bank's activity is designed to modernize and boost the non-raw materials economy and high-technology industries as well as to stimulate innovations, infrastructure development and the export of high-tech products, and to provide support for small and medium-sized enterprises. write your comments about the article :: © 2010 Construction News :: home page |