1st Sep 2014 07:05
LONDON (Alliance News) - Kier Group PLC Monday said its construction arm has been appointed as the preferred bidder for the construction of a GBP50 million London high rise, while its services division has been awarded the National Engineering & Construction Contract (NECC) by the Canal & River Trust, with an estimated annual value of GBP25 million.
FTSE 250-listed Kier said its construction division has been appointed by Knight Dragon to build a new GBP50 million residential tower on the Greenwich Peninsula.
Kier will design and construct 224 luxury apartments arranged in four blocks, anchored by a 24-storey tower, with a riverside position.
The development will include over 160 acres of residential, business and leisure space, with a long stretch of river frontage.
Meanwhile, Kier said its services division has been awarded a contract worth GBP25 million to provide professional services support to the Canal & River Trust.
The initial contract, commencing in April 2015, will be for six years with a possible extension up to maximum of 10 years.
The National Engineering & Construction Contract (NECC) replaces the Omnibus 3 contract, for which Kier was the incumbent contractor since April 2009. The NECC is the Canal & River Trust's largest single contract, consisting of construction works across the Canal & River Trust system equating to approximately 100 major construction projects and over 200 minor repair projects a year.
Kier Group shares were quoted up 1.1% at 1,723.00 pence early Monday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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