WARSAW (Dow Jones)
A consortium including Polish builder PBG S.A. (PBG.WA) placed the lowest offer for the construction of a liquefied natural gas terminal in northwestern Poland, a state-owned company in charge of the project said Monday.
Price is the key factor in the tender, making the consortium a favorite to win the contract.
The consortium includes Italy's Saipem S.p.A (SPM.MI), France's Saipem SA, Italy's Techint Compagnia Tecnica Internazionale S.p.A., Snamprogetti Canada Inc., and PBG. The consortium offered to build the terminal for 2.95 billion zloty ($906.5 million).
Poland hopes to reduce its dependence on Russian natural gas after the terminal's launch, scheduled for June 2014. Work on the terminal is set to begin in the second half of this year.
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