JSC CONCERN TITAN-2 has filed a claim against JSC Metrostroy (St. Petersburg) amounting to 1, 479 billion rubles

Besides violation of a works schedule, JSC Metrostroy have not been providing to the general contractor as-built documentation for the accomplished works for a long period.

Due to the specified violations a few milestones have been accomplished later than scheduled at the power unit No. 1 of LAES-2, such as building of civil works structures on the dome of the reactor building, completion of concreting of the dome of an external containment of the reactor building.

Work completion deadlines on installation of fire extinguishing systems have been violated entailing untimely execution of a milestone "Power supply provision for own needs" directly affecting other milestones ensuring timely commissioning of the power unit No. 1

The cost of works under the agreement is 31.726 Bln rubles. Under the terms of the agreement the penalty amounts to 1.479 Bln rubles.

In these circumstances, to observe the predetermined terms of construction JSC CONCERN TITAN-2 is compelled to replace Metrostroy on LAES-2 facilities. Hence, the company incurs substantial finance costs.

It should be noted that thanks to efforts of JSC CONCERN TITAN-2, it succeeded to overcome a delay in the project.

 The Court of Arbitration of St. Petersburg and the Leningrad Region has entertained an action and appointed the first meeting on September 26th, 2016.

JSC CONCERN TITAN-2 is one of the leading full-cycle engineering companies in the Russian Federation. The company renders services in designing, civil works and construction and installation works, supply of equipment, technical supervision, as well as further maintenance for all types of facilities. High market competitiveness of TITAN-2 is ensured by use of effective project management methods and the advance technologies matching the highest construction standards.


For further information contact: Sergey Zaves, PR Director, JSC CONCERN TITAN-2, (This email address is being protected from spambots. You need JavaScript enabled to view it. , +79 194 104 848)               Web site: http://www.titan2.ru         Facebook: www.facebook.com/groups/titan2/