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HOCHTIEF - Three New Growth Areas Generate Orders Worth Over EUR 1.1 Billion - Group wins projects to build energy and transportation infrastructure and shape major cities - CEO Stieler: “HOCHTIEF’s new focus is paying off” - HOCHTIEF.de
HOCHTIEF - Three New Growth Areas Generate Orders Worth Over EUR 1.1 Billion

 

PRZOOM - /newswire/ - Essen, Germany, 2012/03/15 - Group wins projects to build energy and transportation infrastructure and shape major cities - CEO Stieler: “HOCHTIEF’s new focus is paying off” - HOCHTIEF.de.

   
 
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In the USA and Australia, HOCHTIEF has received orders worth over a total of EUR 1.1 billion. The projects all come from the Group’s three strategic growth areas. HOCHTIEF is to expand existing energy infrastructure for a total of EUR 337 million. Around EUR 312 million will come from transportation infrastructure projects, while contracts to shape major cities will contribute a further EUR 492 million. “The new focus is paying off: We have established a clear position and are therefore seen by the market as a provider of first choice” said Dr. Frank Stieler, Chairman of HOCHTIEF’s Executive Board.

In Australia, a joint venture including Leighton subsidiary John Holland (share: 50 percent) is to undertake construction work for the Ichthys offshore gas project belonging to energy groups Total and INPEX. An 889-kilometer underwater pipeline will transport liquefied gas from an offshore platform located 200 kilometers off the coast to a plant near Darwin in the Northern Territory for further processing. Here, John Holland will build access roads and drainage, be responsible for preparing the subsoil, and manage waste removal. The work is scheduled to begin in April 2012 and be completed in mid-2014. The project is worth EUR 273 million (AUD 340 million) in total, with John Holland’s share amounting to some EUR 136 million. At the Moorvale Mine in Central Queensland, Australia, Peabody Energy has awarded Leighton Contractors a contract extension until September 2013. The company organizes coal mining and is in charge of the maintenance and operation of transportation vehicles as well as technical services. The contract is worth approximately EUR 100 million (AUD 125 million). In addition, Leighton Contractors has signed a framework agreement for earthworks at eight mines in the Australian region of Pilbara with commodities giant Rio Tinto. Although this agreement does not have a specific value, it does stipulate the basic terms and conditions of cooperation on a project in which Rio Tinto intends to invest around EUR 14 billion (AUD 18 billion).

In North America, Group subsidiary Flatiron won new orders worth more than EUR 190 million (USD 250 million) in the first quarter. All are transportation infrastructure projects. For the Washington State Department of Transportation, for example, the company is to upgrade a 27.4-kilometer section of the Interstate 5 between the cities of Bellevue and Lynwood. This will involve constructing new lanes and access ramps as well as erecting noise walls. Flatiron will start the work in mid-2012 and complete it at the end of 2015. The contract is worth EUR 118 million (USD 155 million). In Australia, John Holland is expanding the Western Highway in Victoria. For EUR 122 million (AUD 152 million), the company will upgrade the roughly 23-kilometer stretch between the towns of Burrumbeet and Trawalla to four lanes. The contract is part of the broader Western Highway upgrade program and will run from April 2012 through June 2014.

In the Arabian region, HOCHTIEF (hochtief.com) is primarily involved in shaping major cities. For example, Group subsidiary Habtoor Leighton Group (HLG) is to construct a significant portion of the Jewel of the Creek urban development in Port Saeed, Dubai. For almost EUR 100 million (AED 480 million), the company will undertake substructure and shell works for four basement levels of the building complex, which when completed will comprise several hotels, apartments, offices, and event centers. Jewel of the Creek is being built on an area measuring some 124,000 square meters in total. HLG has already begun work, which is scheduled to be completed in August 2013. Also being built in Dubai is the new Palace Hotel, which is set to become largest integrated hotel complex in the Middle East. From 2016 onward, it will offer nearly 1,600 hotel rooms, a Las Vegas-style “aqua” theater, gardens, and restaurants spread across almost 350,000 square meters. HLG is to construct the building complex and began design work back in January 2012. Construction work will get underway in June 2012 and be completed in the second half of 2016. The contract is worth EUR 392 million (AUD 515 million).

 
 
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HOCHTIEF - Three New Growth Areas Generate Orders Worth Over EUR 1.1 Billion

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HOCHTIEF AG |
Contact: Christian Gerhardus - HOCHTIEF.de 
+49 201 824-2642 presse[.]hochtief.de
 
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