Leighton-China State JV secures A$929m - MTR Corporation contract

[HOCHTIEF AG - 16.01.2015] Leighton-China State JV secures A$929m - MTR Corporation contract

Leighton Holdings subsidiary Leighton Asia, in a joint venture with China State Construction Engineering (Hong Kong), has been awarded a contract by MTR Corporation for works on the Shatin to Central Link in Hong Kong. Total revenue for the project is A$929 million, of which Leighton has a 51% share.
Leighton Holdings Executive Chairman and Chief Executive Officer Marcelino Fernández Verdes said: "Securing the largest civil works contract within this project is an excellent achievement and is reflective of Leightons experience in delivering transport projects of this size in busy urban areas.
"Demand from growing populations and the need to address infrastructure deficits are resulting in continued growth in infrastructure investment in Asia. In addition to this project, Hong Kongs government announced plans last year to further expand its mass transit network in coming years. Leighton Asia is positioned to be a strong contender for future work." Leighton Asia Managing Director Manuel Alvarez Munoz said: "Leighton has developed a strong working relationship with both our JV partner China State and with MTR Corporation. These relationships will contribute to the successful delivery of this high profile project." The works, which will commence in January 2015, involve the construction of an underground station (Exhibition Station) and 300 meters of cut and cover tunnel along Convention Avenue (Western Approach Tunnel). The station will serve Hong Kongs Convention Centre and the North Wanchai area, completing the new railway link connecting New Territories and north Hong Kong.

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