Printer Friendly

MK TEAM SELECTED IN ARGENTINA'S PRIVATIZATION OF RAIL TRANSIT IN BUENOS AIRES

 MK TEAM SELECTED IN ARGENTINA'S PRIVATIZATION
 OF RAIL TRANSIT IN BUENOS AIRES
 BOISE, Idaho, Nov. 5 /PRNewswire/ -- William J. Agee, chairman and chief executive officer of Morrison Knudsen Corp. (MK) (NYSE: MRN), announced today that MK is part of a consortium that has been selected to negotiate a contract to operate and maintain two commuter rail lines and the subway system serving Buenos Aires, Argentina, under a franchise agreement with the Argentine government.
 Under the agreement between the consortium members, MK would generate its revenue through technical assistance fees and is in a position to supply the consortium with state-of-the-art equipment for a proposed capital improvement program.
 Selection of the consortium was made by the government on behalf of two Argentinean agencies, FEMESA, a commuter rail operator; and SBASE, operator of the Buenos Aires subway system, as part of that country's ongoing program to privatize government-owned industries.
 Agee said MK's role consists of maintenance of rolling stock and facilities, management of the acquisition and manufacturing programs, and supply of locomotive and transit car components.
 "This project gives MK the opportunity to combine our years of experience in the transit car and locomotive business with our world- class engineering expertise to help provide Buenos Aires with a modern and efficient commuter rail system," said Agee. He added that the technology transfer will allow increasing local participation in management of the consortium over the life of the franchise.
 Negotiations between the consortium and the government, which will lead to a final contract, are expected to be concluded within 90 days. The base terms of the proposal include a 10-year franchise to provide operations, maintenance and procurement on the Sarmiento and Mitre commuter lines and a 20-year franchise to provide those services on five subway lines and a small commuter feeder line in Buenos Aires. Options could extend the agreement up to 30 years with further extensions possible.
 In addition to MK the consortium includes Fort Worth, Texas-based Burlington Northern Railroad and two Argentinean firms, Benito Roggio, a large construction company based in Cordoba, and Cometrams, an association of the 30 largest independent bus companies in Buenos Aires.
 Morrison Knudsen Corp. is an international company serving the environmental, industrial process, power and transportation markets with complete development, design/engineering, construction, operating and financial services.
 -0- 11/5/92
 /CONTACT: Brent Brandon of Morrison Knudsen, 208-386-5387/
 (MRN) CO: Morrison Knudsen Corp.; FEMESA; SBASE; Burlington Northern
 Railroad; Benito Roggio, Cometrams ST: Idaho, Texas IN: TRN SU: CON


SW -- SE010 -- 7851 11/05/92 15:27 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1992
Words:421
Previous Article:ASHLAND BOARD DECLARES REGULAR QUARTERLY DIVIDEND
Next Article:ROLLINS ENVIRONMENTAL CONTINUES ITS JOINT COMMERCIALIZATION OF MOLTEN METAL TECHNOLOGY'S CATALYTIC EXTRACTION PROCESSING TECHNOLOGY
Topics:


Related Articles
MK SELECTED FOR $155-MILLION CONTRACT TO BUILD 88 NEW TRANSIT CARS FOR CALIFORNIA DEPARTMENT OF TRANSPORTATION
MK ACQUIRES RAIL MANUFACTURING FACILITY IN ARGENTINA
MORRISON KNUDSEN ARGENTINA RAIL FACILITY RECEIVES FIRST CONTRACT
MORRISON KNUDSEN TEAMS WITH TORQUE TO MANUFACTURE LOCOMOTIVES IN BRAZIL
MORRISON KNUDSEN TEAM TO OPERATE AND MAINTAIN A COMMUTER RAIL LINE AND SUBWAY SYSTEM IN ARGENTINA
RAIL INDUSTRY LEADERS NAMED TO TOP MK EXECUTIVE POSITIONS
MORRISON KNUDSEN RAIL CORPORATION DIRECTORS DECLARE 4-CENT CASH DIVIDEND
YPF ANNOUNCES CONSORTIUM AWARDED STAKE IN CHEMICAL COMPANIES
Trading Places.
The captain's return.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters