Construction and contract mining company Leighton Holdings Ltd
(ASX:LEI) has been awarded two major infrastructure contracts in India worth US$550 million.
The first project is the Chenani-Nashri tunnel in Jammu, Northern India, the second is for the Vizag Port expansion.
Leighton says construction work on the 9 kilometre tunnel in Northern India, which will be one of the longest road tunnels in Asia, is valued at around US$500 million with work to start immediately.
Construction work for the Vizag Port expansion is valued at US$45 million and is expected to start in July and be completed by mid 2012.
Leighton India, managing director Russell Waugh says the Indian market presents enormous opportunities for Leighton, and the company is well positioned with a strong mix of international experience and local knowledge to capitalise on the pipeline of projects coming forward over the coming years.
Leighton Holdings profit after tax for fiscal 2009 came to just over $440 million.
