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Canadian company to design new Algerian city
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MONTREAL - Canadian engineering and construction company SNC-Lavalin confirmed it has been selected to design a new Algerian city to house 80,000 people.
A company spokesman in Montreal on Thursday declined to discuss financial details published by TSA-Algerie.com, a French-language news site that reported SNC-Lavalin has been chosen after open bidding.
An analyst who covers SNC-Lavalin estimates the contract could be worth 500 million Canadian dollars ($430 million) for the company.
Desjardins Securities analyst Pierre Lacroix says a half-billion-dollar deal would be one of the biggest services contracts in SNC-Lavalin's history.
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