LSR Subsidiary Signs RUB3.6 billion Building Contracts
Under the contracts, CJSC Mosstroyrekonstruktsiya will provide engineering and construction services, including utilities connection for a new residential quarter for military personnel in Solnechnogorsk, the Moscow region.
The new residential quarter consists of 1,600 apartments in an area of 90,239 square meters and will comprise of both high-rise Euroâ€™PA buildings and low-rise houses.
The construction of low-rise neighbourhood of 1,000 apartments will begin in November 2011 in an area of 53.7 ha. CJSC Mosstroyrekonstruktsiya will construct EURO-houses up to three floors high.
CJSC Mosstroyrekonstruktsiya will start the construction of high-rise buildings on the neighboring land plot of 5.7 ha. The quarter will be transferred to the customer in stages. The low-rise houses will be transferred in April 2013, and the high-rise buildings in November 2013.
CJSC Mosstroyrekonstruktsiya is also constructing six residential houses of 140, 000 square meters for military personnel in Balashikha, the Moscow region. The current project is the second for the company from RF Ministry of Defence.
Ivan Romanov, managing director of LSR Group at Moscow, said: â€œI believe CJSC Mosstroyrekontruktsiya was chosen as a subcontractor in this project, thanks to our reputation as a reliable company and due to advantages of the modern energy-efficient technologies we use.
â€œMoreover, our low-rise EURO-houses represent truly European quality and construction works can be completed within just three months. As a result, we are able to deliver the project of key importance to the government in a very short period of time.â€
In addition, CJSC DSK Block, a subsidiary of LSR Group, has signed a contract of RUB1.536 billion with Chief Army Support Department to construct two residential buildings for the military personnel in Saltykovka (Balashikha), the Moscow region.
OJSC LSR Group is a real estate development and building materials company, operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and panel construction.
Will the deal commercially benefit the firm?
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