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MK LEADS HISTORIC $800-MILLION CANADIAN PROJECT: COMPANY TO BUILD, OWN & OPERATE WORLD'S FOURTH LONGEST BRIDGE

 BOISE, Idaho, Oct. 12 /PRNewswire/ -- William J. Agee, chairman and chief executive officer of Morrison Knudsen Corp. (NYSE: MRN) (MK), announced today that MK is part of a joint venture that has been awarded a contract from the Government of Canada to design, construct, own and operate an $800-million (Canadian) bridge linking Prince Edward Island with New Brunswick.
 The contract was awarded to Strait Crossing Development Inc., of Toronto, Ontario, a joint venture comprised of Northern Construction Co., Ltd., of Vancouver, British Columbia, a wholly owned subsidiary of Morrison Knudsen Corp., GTM Entrepose of France and SCI Contractors Inc., of Calgary, Alberta.
 "This massive project is a classic in terms of size, historic significance and privatization," said Agee. "The bridge will be the fourth longest in the world, the second largest shore-to-shore, and will fulfill a Canadian constitutional guarantee made in 1873 to provide a transportation link from Prince Edward Island to the mainland. In addition to designing and constructing the bridge, our consortium will own and operate it for 35 years before transferring it to the Canadian government."
 The 8.4-mile, two-lane bridge will transverse the Northumberland Strait from Cape Tormentine in New Brunswick to Borden on Prince Edward Island.
 Financing for the project has been arranged principally through the issuance of approximately $660 million (Canadian) of Subsidy Backed Bonds. This project is the largest privatization project ever awarded by the Government of Canada.
 More than 1,500 jobs will be created in building the major components of the traffic crossing, which include the approach roads, abutments, approach and deep-water marine spans and navigational spans as well as the land-based facilities for the operation and maintenance of the bridge. Heavy-lift floating cranes, capable of lifting more than 7,200 tons, will be used to lift, position and lower the foundations, piers and spans. The bridge will consist of 26 approach and 44 marine spans; the center of the structure will be 210 feet above the Northumberland Strait, providing a navigational channel for ships.
 "This is a world-class construction project that continues MK's long tradition of major accomplishments," Agee said. "The Prince Edward Island Bridge will take its rightful place beside other mammoth MK projects, such as the Hoover Dam, the San Francisco Bay Bridge and the Trans-Alaska Pipeline."
 Morrison Knudsen Corp. serves the world's construction, transportation, environmental, industrial and power markets as an engineer, contractor and manufacturer, offering complete development, operations and financial services.
 -0- 10/12/93
 /CONTACT: Brett Brandon of Morrison Knudsen, 208-386-5387/
 (MRN)


CO: Morrison Knudsen Corp.; Strait Crossing Development Inc. ST: Idaho, New Brunswick, Prince Edward Island IN: CST TRN SU: CON

JH -- SE018 -- 1306 10/12/93 16:55 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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