HOCHTIEF has won new contracts with a total value of USD 727.2 million (EUR 558.3 million) through its subsidiary Leighton. In Australia John Holland is to extend the harbor in the city of Port Lambert. Visionstream - also a Leighton subsidiary - is to expand the communications network in two states. In Papua New Guinea Leighton Contractors will build the headquarters of an Esso Group subsidiary, while in Macau Leighton Asia will construct the Wynn Cotai luxury resort.
Port Lambert is a transshipment town in Western Australia, around 40 kilometers north of Karratha. The commodities group Rio Tinto has been using the harbor for years to ship its iron ore, and intends to increase capacity to 360 million tons per year. To this end John Holland will build two additional piers alongside Port B which the Leighton subsidiary is currently constructing. The follow-on contract is worth USD 193.8 million (EUR 142.8 million). "Harbor construction is part of HOCHTIEF’s core competence of realizing complex infrastructure projects. This business area offers respectable profit margins worldwide, so we wish to expand it further," emphasizes Marcelino Fernández Verdes, CEO of HOCHTIEF.
The Leighton subsidiary Visionstream is to expand the social and urban infrastructure of the communications network in the Australian states of Victoria and Tasmania. The company will refurbish existing cables and do the groundwork for the laying of fiber optic cables. The project, awarded by telecommunications group Telstra, is worth USD 93.8 million (EUR 69.1 million) and also allows for the contract to be renewed twice. The total potential volume thus amounts to USD 218.8 million (EUR 161.2 million). Work on the first partial contract has already begun.
In Port Moresby, the capital of Papua New Guinea, one of the few metropolises in Oceania, Leighton Contractors is to build the new corporate headquarters of Esso Highlands Ltd. The project is worth around USD 208.3 million (EUR 153.6 million) and work will get underway this year. In the Chinese special administrative region of Macau, around 50 kilometers west of Hong Kong, Leighton Asia will handle the first construction phase for the 5-star Wynn Cotai hotel. The resort is designed to be the world’s biggest leisure landscape: Apart from a luxury hotel, the resort will feature numerous attractions, restaurants, shopping amenities and a night club. This first construction phase alone is worth USD 231.3 million (EUR 170.4 million), making it the biggest contract in Leighton Asia’s history, and the fourth successive contract for Wynn Resorts. Work is scheduled for completion by 2016.