Keller bags 35m pound Moscow contract

Ground engineering specialist Keller announced that it has won a 35m pound contract for the preparation of a complete excavation pit for a Russian real estate development, construction and building materials company.

Ground engineering specialist Keller announced that it has won a 35m pound contract for the preparation of a complete excavation pit for a Russian real estate development, construction and building materials company.

The contract is part of the development of a new residential complex located in central Moscow, Keller explained.

The development will comprise several multi-storey buildings constructed above shared, two-level underground parking for around 1,800 cars. Work is expected to start shortly and to complete in spring 2014.

Keller Chief Executive Justin Atkinson commented: "This award comes on the back of several smaller contacts in Russia completed by Keller in recent years, including the foundations for the ice rink in Sochi for the 2014 Winter Olympics. It is encouraging to see our business gaining traction in this growing market."

"The construction of complete excavation pits is a good example of how we continue to broaden the range of services we offer to meet our customers' total foundation requirements."

Shares of Keller fell 1.17% to 800p at 09:30.

CJ

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021
The future belongs to emerging markets – three EM stocks to buy now
Share tips

The future belongs to emerging markets – three EM stocks to buy now

Professional investor Carlos von Hardenberg of Mobius Capital Partners picks three of his favourite emerging-market stocks.
5 Jul 2021