Balfour Beatty wins Hong Kong rail contract

Construction firm Balfour Beatty said its half-owned Hong Kong builder, Gammon Construction, had won a contract worth £270m.

Construction firm Balfour Beatty said its half-owned Hong Kong builder, Gammon Construction, had won a contract worth £270m.

The HK$3.4bn deal will see Gammon working on a major section of the new Shatin to Central Link rail project as part of a joint venture.

The contract, which has been awarded by Hong Kong rail operator MTR Corporation, includes the construction of two running tunnels covering one kilometre of track.

The track will connect the existing East Rail Line to the Hung Hom Station and the Hung Hom Station to the future Ho Man Tin Station.

Balfour Beatty Chief Executive, Ian Tyler, said one of his firm's key strategic sectors was transportation and the contract built on it strengthening global experience in rail.

Work is due to start before the year-end and will be completed in 2018.

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Best savings accounts – February 2023
Savings

Best savings accounts – February 2023

Interest rates on cash savings are making a comeback. We look at the best savings accounts on the market now
6 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023
Share tips of the week – 3 February 2023
Investments

Share tips of the week – 3 February 2023

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages
3 Feb 2023