World Bank temporarily suspends SNC-Lavalin subsidiary’s bidding rights

World Bank temporarily suspends SNC-Lavalin subsidiary’s bidding rights

SNC-Lavalin has announced that one of its subsidiaries has received formal notice from the World Bank that its rights to bid on new World Bank projects have been temporarily suspended.

The allegations in the confidential report relate to the Padma Bridge project in Bangladesh. The SNC-Lavalin subsidiary had bid on a project to act as the owner’s engineer for the Bangladesh government to supervise the contractor responsible constructing the bridge. The project was not awarded.

Ian Bourne, interim chief executive officer of SNC-Lavalin, said the company launched its own investigation when the matter was first brought to its attention and it will be cooperating fully with the World Bank. The company intends to provide a comprehensive response to the allegations.

“We respect the World Bank’s decision to declare a temporary suspension on the subsidiary affected until this matter is concluded. We should be clear, however, that all ongoing projects and new bids by other subsidiaries and divisions will continue as usual,” said Bourne.

SNC-Lavalin said it remains committed to maintaining ethical standards of business conduct.