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Strabag-led consortium wins €5 bln Russia order

Austrian builder Strabag said on Monday it had won an order from Russia worth around €1 billion ($1.54 billion).

The order was part of an order worth more than €5 billion to build a nearly 50 kilometer ring motorway around St Petersburg, which was won by a consortium of Strabag, French construction group Bouygues Construction, Germany’s Hochtief and France’s Egis Projects, as well as Russian firms Mostoodryad No.19 and Basic Element. Construction is expected to begin in spring 2009, Strabag said in a statement. (Reuters)