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HOCHTIEF Powers Ahead in Sustainable Energy Infrastructure Business - HOCHTIEF last week made key decisions for its German offshore business -
HOCHTIEF Powers Ahead in Sustainable Energy Infrastructure Business


PRZOOM - /newswire/ - Essen, Germany, 2012/02/20 - HOCHTIEF last week made key decisions for its German offshore business -

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• Milestones in German offshore business now followed up with expansion of energy infrastructure in Australia;
• Group subsidiary Leighton secures clutch of contracts from resources sector for over EUR 602 million.

The Group launched a joint venture to develop wind farms and straightaway set its sights on five wind farm concessions. Now HOCHTIEF is forging ahead with the expansion of sustainable energy infrastructure in Australia. Group subsidiary Leighton has secured a clutch of contracts for over EUR 602 million from resources groups such as Chevron, BHP Billiton, and Australia Pacific. "We are building LNG tanks and export terminals. We are constructing the infrastructure for offshore gas projects and mining resource deposits. This is outstanding business with very strong returns," said a gratified Dr. Frank Stieler, Chairman of the HOCHTIEF Executive Board. Since Stieler took office, the Group has stepped up its focus on three strategic growth areas: creating sustainable energy infrastructure, shaping major cities, and building state-of-the-art transportation infrastructure.

In a fifty-fifty joint venture, Leighton subsidiary Thiess is to build liquefied natural gas (LNG) tanks for the Chevron-operated Wheatstone Project in Western Australia. The energy group provides offshore LNG and natural gas for the region’s energy supply. Thiess is responsible for engineering, procurement, and construction of the tanks near the town of Onslow. Four tanks are to be built in all - two normal storage tanks with a capacity of 150,000 cubic meters each and two condensate storage tanks with a capacity of 120,000 cubic meters each. Work will commence shortly for completion in 2016. The contract is worth a total of some EUR 410.3 million (AUD 500 million), with Thiess accounting for some EUR 205 million. This is the Group company’s third contract for Wheatstone. Thiess is already constructing a new breakwater for the project off the northwest coast of Australia and is also building a tunnel linking the offshore gas reserves with the liquefaction plant. At the same time, Thiess is working for Chevron on the Gorgon offshore LNG project on Barrow Island (likewise off the Australian coast), where it is constructing accommodation and infrastructure for the project workforce.

For an Australia Pacific offshore gas project, Leighton Contractors is building a 2,600-bed workers‘ accommodation village and associated infrastructure on Curtis Island. This includes roads, services, and leisure amenities. Work already begun on the project near the city of Gladstone, Australia, will be completed in 2013. The contract is for EUR 68.9 million (AUD 84 million).

BHP Billiton Mitsubishi Alliance has awarded Thiess the contract to develop the Caval Ridge coal mine in Queensland, Australia. This entails the Leighton subsidiary building the necessary heavy haul roads, early works for the product stockpile area, creek diversion, and drainage infrastructure. Up to seven million metric tons of material will be handled in the course of the work. The mine, approximately 25 kilometers southeast of the town of Moranbah, is projected to produce about 5.5 million metric tons of coal a year. The contract is worth some EUR 147.7 million (AUD 180 million).

At the end of 2012, Leighton subsidiary John Holland is to start work on a new coal export terminal in Gladstone Harbour, Queensland, Australia. Alongside construction works, the company is also to install mechanical and electrical equipment, piping, and loading systems. About 27 million metric tons of coal a year is to be exported from the new terminal starting in spring 2014. The contract is for some EUR 180.5 million (AUD 220 million).

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