Baran close to winning $300m. deal

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.

By AVI KRAWITZ
February 15, 2006 06:44

 
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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.

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