For immediate release Thursday, 21 June 2007
Keller Group plc
Major Contract Wins in the Middle East
Keller Group plc ("Keller" or "the Group"), the international ground
engineering specialist, has recently been awarded contracts valued at around
US$110m (£55m) for piling and ground improvement works in the Middle East.
Three separate contracts, totalling around US$80m (£40m), are part of the
development of a new petrochemical complex for Saudi Kayan, the Saudi Arabian
petrochemical company, in Al-Jubail, Saudi Arabia*. Piling work is already
underway with peak activity, employing some 10 piling rigs and five vibro rigs,
anticipated by September. Approximately half of the work is expected to be
completed in Keller's current financial year ending 31 December 2007.
In the United Arab Emirates, the Group is currently working on two contracts
valued at around US$30m (£15m) at Al Raha Beach. Keller is undertaking sand
compaction and installing stone columns on some 2.4 million m² of reclaimed
land as part of a luxury leisure and residential development along the highway
between Abu Dhabi and Dubai. Keller's contract is scheduled for completion in
approximately fifteen months' time.
*Contracts awarded to Keller Turki Co. Ltd, a 65%-owned subsidiary of the
Keller Group.
Justin Atkinson, Keller Chief Executive, commented:
"Our increased strategic focus in the Middle East, coinciding with the local
construction boom, is creating excellent opportunities for the Group in this
region.
"These contract awards have contributed to an all-time high order book for the
Group as a whole, creating a strong platform as we move into the second half of
the year."
For further information, please contact:
Keller Group plc
Justin Atkinson, Chief Executive 020 7616 7575
James Hind, Finance Director
Smithfield 020 7360 4900
Rupert Trefgarne
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