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Hungary's Épker to build water park in Komi Republic

Hungarian construction company Épker Kft expects to sign a contract in January to participate in the construction of a water park and spa complex in Syktyvkar in the Komi Republic, a member of the Russian Federation, managing director László Rabóczki told MTI on Tuesday.

Épker signed a cooperation agreement on the project in December 2006 with the local council of Syktyvkar and Energy Systems, a company based in the city, Rabóczki said. Under the agreement, Épker will participate in planning and preparations for the complex. Its further role in the project will be decided later on. Work on the complex is expected to begin in the first half of 2007.
Raiffeisen Bank has already made an offer to finance the project and an agreement with the bank is also expected to be signed in January.
Rabóczki said Épker expects the project to generate more contracts for it, as the local council wants to involve the company in building new parts of the city. These orders could reach Ft 50 billion in value, he said.
Épker has operations in Hungary and four other countries in the region. It had revenue of Ft 10 billion in 2006, up from Ft 6 billion in 2005.