Joint Venture Formed To Serve Russian Offshore Pipeline Market

ShawCor Ltd.’s pipecoating division, Bredero Shaw, has entered into a joint venture with Russian offshore pipeline contractor OOO ArkhTekhnoProm to establish a pipe-coating facility in the Arkhangelsk Region that that will provide advanced concrete weight-coating services for the emerging northern Russia offshore pipeline market.
  The joint venture involves the formation of a company owned 75% by OOO ArkhTekhnoProm and 25% by Bredero Shaw to provide concrete coating services at a facility located at the Port of Arkhangelsk. Bredero Shaw will lease one of its proprietary mobile concrete-coating plants to the joint venture company and will operate the plant under a technical services agreement for an initial period of four years. The first contract to be executed by the joint venture involves concrete weight-coating of 48-inch diameter pipe for a pipeline crossing of Baydaratskaya Bay from the Yamal peninsula.