Balfour Beatty subsidiary scores science park deal

International construction group Balfour Beatty has reported that its 50 per cent-owned Hong Kong-based business, Gammon Construction, has been awarded a significant contract to extend one of the world's greenest science parks.

Under the HK$2.18bn (£175m) contract, Gammon will develop an area of 105,000m showcasing the latest green construction technologies and sustainable building design, targeting the Leadership in Energy and Environmental Design (LEED) Platinum standard - a green rating system that is recognised globally, and currently the highest level of certification available.

Work on the project, which will create more than 1,600 jobs in Hong Kong, is starting this month and will be completed by December 2013.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Balfour Beatty Chief Executive Ian Tyler said: "We are delighted that Gammon has been awarded this high-profile contract. Along with other state-of-the-art infrastructure projects that Gammon has undertaken in Hong Kong, including the Tamar Complex which we completed recently for the Hong Kong Government, the award of the new science park at Pak Shek Kok demonstrates our credentials in green building.

"Sustainability is at the heart of Balfour Beatty's operations and we continue to grow as the choice provider of innovative and sustainable infrastructure solutions, helping to reduce customers' emissions and energy costs around the world."

NR