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17/07/2014
Balfour Venture Wins Contracts
Balfour Beatty's Hong Kong-based joint venture Gammon Construction has won two building contracts with a combined value of HK$3.91bn (£300m).
Gammon Construction is a 50/50 joint venture with Jardine Matheson. The project has been awarded a HK$2.82bn (£216m) deal by the Hong Kong Housing Authority for a public rental housing development in Tuen Mun in the New Territories.
It is expected that the development will provide about 4,600 flats in 33 to 38 storey towers and other community facilities. It is also expected to be completed by 2016/2017. The Hong Kong government is aiming to provide 470,000 units over the next decade and is expecting public housing to amount to 60% of the growth.
The second contract, valued at HK$1.09bn (£84m), follows Gammon's previous work for Hong Kong Science Park Phases 3a and 3b. The new Phase 3c will involved building two research and development offices and laboratory-enabled facilities. It is expected to 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."
(IT/JP)
Gammon Construction is a 50/50 joint venture with Jardine Matheson. The project has been awarded a HK$2.82bn (£216m) deal by the Hong Kong Housing Authority for a public rental housing development in Tuen Mun in the New Territories.
It is expected that the development will provide about 4,600 flats in 33 to 38 storey towers and other community facilities. It is also expected to be completed by 2016/2017. The Hong Kong government is aiming to provide 470,000 units over the next decade and is expecting public housing to amount to 60% of the growth.
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The second contract, valued at HK$1.09bn (£84m), follows Gammon's previous work for Hong Kong Science Park Phases 3a and 3b. The new Phase 3c will involved building two research and development offices and laboratory-enabled facilities. It is expected to 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."
(IT/JP)
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