Mostobud Signs USD 7 bln Contract with the Sun Land Group

According to Interfax, Ukrainian bridge-construction company, Mostobud (MTBD: N/R) and U.S.-based Sun Land Group Corp signed a USD 7 bln contract to erect bridges. Mostobud, in its press release, said that this project is related to the first stage of extensive highway construction ahead of the Euro-2012 football championship in Ukraine. Sun Land Group signed a partnership memorandum with the government in September 2007 on infrastructure projects throughout Ukraine. Andriy Gostik: Concurrently with the contract announcement by Mostobud, a number of MPs from the Our Ukraine faction called upon the government to question the feasibility of the contract with Sun Land Group given the company’s poor performance on similar contracts in Latin American countries. Sun Land Group, according to Delo, is also planned to be involved in the government’s project to compensate individuals for savings lost in the USSR savings bank. Sun Land Group Corp, according to its website, was founded in 1993 and initially focused on trade operations in the Caribbean, Central America and the US; the scope of the company’s business and its structure are unclear.