ShawCor Provides Update on the South Stream Offshore Pipeline Project
In December 2014, ShawCor Ltd. announced the suspension of the majority of the work on its South Stream Pipeline contracts with Europipe GmbH and Marubeni Sumitomo Consortium (with a combined value of approximately US$100 million) and with Saipem SpA (with a value of approximately C$30 million).
ShawCor announced today that its Canusa-CPS division has received notification from Saipem SpA that the suspension of the work on the above noted Saipem contract has been lifted with immediate effect and that work on this contract is to be resumed.
