The Baran Group, an Omer-based engineering and construction company, said Tuesday it received a letter of intent from an unnamed Russian customer to progress with negotiations to build a $300 million factory in Russia.
Baran, which last month won a prestigious contract with Intel Israel to build its new plant in Kiryat Gat, said its portion of the proposed contract would be valued at approximately $110m. over a two-year period.
Some $80m. would be for construction of the factory and $30m. for engineering services.
Baran said the letter expressed intent to sign an EPCM (engineering, procurement, construction and management) contract in March.