Contract Win

RNS Number : 9739T

Balfour Beatty PLC

20 December 2012

 



20 December 2012

BALFOUR BEATTY ANNOUNCES THE WINNING OF A £270 MILLION TUNNEL CONTRACT IN HONG KONG 

Balfour Beatty, the international infrastructure group, announced today that Gammon Construction, a leading Hong Kong construction company that is 50% owned by Balfour Beatty, has been awarded a HK$ 3.4 billion (equivalent to £270 million) contract to work on a major section of the new Shatin to Central Link in a joint venture with Kaden Construction.

The contract, which has been awarded by the MTR Corporation Limited, includes the construction of two running tunnels covering 1km of track connecting the existing East Rail Line to the Hung Hom Station and the Hung Hom Station to the future Ho Man Tin Station.

Balfour Beatty Chief Executive, Ian Tyler, said: "This is another significant contract award by the Hong Kong MTR Corporation. Not only is it a testament to the strength of the relationship with this valued customer, but also demonstrates the value that our partners put on the experience and expertise we have in delivering major transport projects around the world.

"One of our key strategic sectors is transportation and this activity in Hong Kong builds on our strengthening global experience in rail." 

Work is due to start this month and will be completed in 2018.

ENDS

Analyst/investor enquiries:

Basak Kotler

Balfour Beatty plc

Tel [phone]

Media enquiries:

Danny Wilkinson

Balfour Beatty plc

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Notes to editors:

1.

The contract is a joint venture between Gammon Construction and Kaden Construction, with the value split as 70 per cent Gammon and 30 per cent Kaden.

2.

Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments. We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise. Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail). The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services. Balfour Beatty employs 50,000 people around the world.

 

END

 

 

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