CIMIC Group Limited
(ASX:CIM) has announced the Asian division of Leighton Contractors and its joint venture partner China State Construction Engineering have been awarded a $1.58B contract by the Government of Hong Kong.
The two companies have been engaged to construct the Tseung Kwan O-Lam Tin Tunnel, a core piece of infrastructure designed to meet future traffic demand as a result of population increases.
Leighton Asia leads the JV, with a 51 percent share and is expected to generate revenue for CIMIC in the order of $805 million.
Work on the project will commence in July 2016 and is expected to complete in 5 years.
CIMIC Group Limited reported a net profit of $514 million at 31 December 2015.
