GAMMON JV WINS £238M RAIL INF

RNS Number : 2882R

Balfour Beatty PLC

19 August 2010

 



19 August 2010

GAMMON JOINT VENTURE AWARDED £238 MILLION

RAIL INFRASTRUCTURE CONTRACT 

Balfour Beatty, the international infrastructure group, announces today that Gammon Construction, the market-leading infrastructure contractor in Hong Kong, in which Balfour Beatty has a 50% shareholding, has been awarded a HK $2.883 billion (£238 million) rail infrastructure contract, in joint venture with Leighton Asia, by MTR Corporation.

The contract, for which Gammon has a 50% share, is in the West Kowloon district and is part of the Hong Kong section of the Guangzhon-Shenzhen-Hong Kong Express Rail Link, which forms part of China's strategic national express rail network.

Commenting on the contract award today, Balfour Beatty Chief Executive, Ian Tyler, said:

"We are delighted to have such an integral role in the development of this important rail link which will provide Hong Kong with a direct link to the major cities in Mainland China."

Gammon is an experienced railway infrastructure contractor and is currently involved in the West Island Line which, when complete in 2014, will extend the existing Island Line from Sheung Wan to Kennedy Town.

ENDS

Analyst/media enquiries:

Duncan Murray
Balfour Beatty plc
Tel [phone]
www.balfourbeatty.com

Notes to Editors:

1.

Gammon Construction is 50% owned by Balfour Beatty and 50% by Jardine Matheson, the major Asian trading and manufacturing group. Gammon is Hong Kong's largest and most successful contractor with over 2,500 employees.

2.

Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group operating 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

 

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