19th Aug 2010 09:26
19 August 2010
KIER TO LEAD £125M HONG KONG TUNNELLING JV
Kier Construction has been awarded a £125m (HK$1.5bn) tunnelling contract by the MTR Corporation in Hong Kong as part of a three-way joint venture in which Kier Construction holds a 50% share. Kaden Construction (Hong Kong) and Spanish contractor Obras Subterraneas SA (OSSA) are Kier's JV partners.
The project is part of the Hong Kong Section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL) connecting mainland China and Hong Kong. Work involves the sinking of two deep shafts and two 2.6km long, 7.5m wide railway tunnels which will be constructed by drilling and blasting through hard rock.
The construction team will start work immediately and completion is scheduled for May 2015.
Kier Group chief executive Paul Sheffield commented: "We are delighted to be working for the MTR Corporation again and the award of this contract gives us the opportunity to continue our excellent relationship with this client. This latest contract follows our decision to strengthen our presence in the area and we are hopeful that further awards will follow."
Ends
Contacts:
Deena Mattar
Group Finance Director
Kier Group 01767 640111
Faeth Birch
Nick Woodruff
Finsbury 020 7251 3801
Related Shares:
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