JV lands GBP507 million Hong Kong airport contract

RNS Number : 9218Y

Balfour Beatty PLC

08 March 2012

 



BALFOUR BEATTY JOINT VENTURE LANDS £507 MILLION

HONG KONG AIRPORT CONTRACT

Balfour Beatty, the international infrastructure group, announces today that Gammon Construction, the market-leading contractor in Hong Kong in which Balfour Beatty has a 50% shareholding, has been awarded a HK$6.2 billion (£507 million) development contract at Hong Kong International Airport (HKIA).  This is the biggest "solo" contract ever awarded to Gammon Construction and, coming on the back of other recent significant contract awards, is further evidence of the growth potential in this market.

The contract is for the construction of the new Midfield Concourse in the central area of the airport, complete with 19 fully serviced aircraft stands, fixed link bridges and associated transport links. It marks the latest Gammon contribution to the airport's development which has included the building of Cathay Pacific Air Cargo Terminal, SkyPier, North Satellite Concourse and DHL Central Asia Hub.

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

"This is a very significant contract win and evidence of our strength of capability in airports around the world and our reputation for quality in the region. We are pleased that Airport Authority Hong Kong has chosen to extend its relationship with us and engage the company on a project of great importance to the region's economy."

The project, under contract P533,  is due to start immediately and is scheduled for completion in September 2015.

ENDS

Analyst/investor enquiries:

Basak Kotler

Balfour Beatty plc

Tel [phone]

Media enquiries:

Matt Graydon
Balfour Beatty plc

Tel [phone]

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 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.
3.	Balfour Beatty Group has extensive experience in the airport sector, including the completion of projects at: Dubai, Kuala Lumpur, Katunayake (Sri Lanka), Delhi, London Heathrow and Gatwick, Dublin, Edinburgh, Glasgow, Manchester, Dallas Fort Worth, Jacksonville, Miami, Orlando and Tampa. We also own Blackpool and Exeter airports in the UK.

 

END

 

 

CNTUGUUAWUPPGMM