REG - Balfour Beatty PLC - WINS HK$3.91BN(£300M) HONG KONG BUILDING CONTRACTS <Origin Href="QuoteRef">BALF.L</Origin>

Balfour BeattyAnnouncement

06/09/2014 16:39

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RNS Number : 4439M
Balfour Beatty PLC
16 July 2014 
 
News Release 
 
16 July 2014 
 
BALFOUR BEATTY JOINT VENTURE WINS HK$3.91 BILLION (£300 MILLION) BUILDING
CONTRACTS IN HONG KONG 
 
Balfour Beatty, the international infrastructure group, announces today that
its Hong Kong based joint venture Gammon Construction has won two building
contracts with a combined value of HK$3.91 billion (£300 million). 
 
Gammon Construction, a 50/50 joint venture with Jardine Matheson, has been
awarded a HK$2.82 billion (£216 million) contract by the Hong Kong Housing
Authority for a public rental housing development in Tuen Mun in the New
Territories, which will provide approximately 4,600 flats in 33 to 38 storey
towers and other community facilities. The project will be completed by
2016/2017. To counter a shortfall in housing, the Hong Kong government is
aiming to provide 470,000 units over the next decade with public housing
accounting for 60% of this growth. 
 
The second contract, valued at HK$1.09 billion (£84 million), follows Gammon's
previous work for Hong Kong Science Park Phases 3a and 3b. The new Phase 3c
involves constructing two research and development offices and
laboratory-enabled buildings. The project will meet the stringent Hong Kong
Building Environmental Assessment Method (HK-BEAM) Plus Platinum standard, and
will be completed by the end of 2015. 
 
Balfour Beatty Executive Chairman Steve Marshall said: "These projects build
on an already strong order book in Hong Kong and there is potential for more
opportunities as the demand for housing and sustainable buildings continues.
With a solid track record in delivering these construction projects, our
project teams are also committed to realising our vision regarding safety,
quality and environmental performance." 
 
ENDS 
 
Analyst/investor enquiries:
Anoop Kang
Tel. +44 (0)20 7216 6913
anoop.kang@balfourbeatty.com 
 
Media enquiries:
Dominic Cheetham
Tel. +44 (0)20 7963 4235
dominic.cheetham@balfourbeatty.com 
 
Notes to editors: 
 
 1.  Gammon Construction is a 50/50 joint venture between Balfour Beatty and Jardine Matheson. A leading construction company in South East Asia, it has been building a wide range of construction projects for over 55 years. It is the market leading construction 
     contractor in Hong Kong, where it is headquartered, and also operates in China and Southeast Asia.                                                                                                                                                              
 2.  Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management 
     to construction and maintenance.Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK and the USA, with developing businesses in Australia,    
     Canada, the Middle East, South Africa and South East Asia.With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors focus on infrastructure - transportation (roads, rail  
     and aviation), power and energy, water and complex buildings (both commercial and social).Balfour Beatty employs 40,000 people around the world.                                                                                                                
 
 
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