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.

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