Leighton secures $654 contract in India
Leighton Holdings Ltd said on Thursday that it has been awarded two infrastructure projects in India worth $US550 million or $A653.5 million, with the construction work on Chenani-Nashri road tunnel alone being valued at $US500 million.
The construction company said that apart from working on the nine kilometre road project in northern India, it is also set to take on the expansion plans of the Vizag Port.
Leighton said that work on the Chenani-Nashri project, set to be one of Asia's longest roads once completed, would begin almost immediately and target timeline of completion is about 54 weeks.
On the other hand, the Vizag Port expansion would fetch the company a total of $45 million and the project is set to start in July with projected completion by the middle part of 2012.
Leighton said that it is set to widen the port's existing 350 metres general cargo berth by another 21 metres, supposedly for a much efficient coal unloading.
The company is also tasked to provide foundations for the port's 2.5 kilometres conveyor gallery and then build a new stockyard and erect its administration building.
Leighton's managing director for India Russell Waugh said that the Indian market offers great expansion opportunities for the company and he expressed confidence that "we are 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."