Italian company Astaldi awarded $1B contract for Muskrat Falls

Nalcor Energy has selected Astaldi Canada Inc., an Italian-based company, to take care of a major civil work on the Muskrat Falls hydroelectric generating facility. The Italian company has been contracted to build powerhouse, intake, gated spillway, transition structures and other associated work in the area. Overall costs have been estimated in $1 billion.

Gilbert Bennett, Vice President, Nalcor Energy Lower Churchill Project, commented on his choice stressing that Nalcor Energy has "followed an extensive evaluation and selection process for this contract package," aiming at identifying "the contractor that could meet the technical requirements of the work while providing the best overall value for the project and the people of this province."

Commercial negotiations with Astaldi Canada Inc. are expected to be finalized in the coming few weeks, in order to allow the company to move to the project site and prepare for work by the end of the month.

Mr. Bennet also highlighted that work on the Muskrat Falls project is progressing, "the number of people working on site has grown to approximately 900 and with the start of construction on the powerhouse, that trend will continue." Throughout construction, the Muskrat Falls Project will generate more than $1.9 billion in income to labour and business throughout Newfoundland and Labrador, $2.2 billion in Atlantic Canada and an estimated $4.7 billion across Canada.

Astaldi Canada Inc. is based in Montreal with operating offices in St. John's and Happy Valley-Goose Bay. Astaldi Canada Inc. is a wholly owned subsidiary of Astaldi S.p.A., a leading Italian general contractor with over 90 years of global experience and whose headquarter is in Rome. Its expertise is in the construction of large infrastructure projects in transportation, water and energy, and civil and industrial building.

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