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Gammon awarded £150 million Hong Kong University contract

Balfour Beatty, the international engineering, construction, investment and services Group, announces today that Gammon Construction, the market-leading infrastructure contractor in Hong Kong in which the Group has a 50% shareholding, has been awarded the Centennial Campus contract by the University of Hong Kong, valued at HK$2 billion (£150 million).

The contract which comprises two packages, namely the Centennial Campus and the University Street and Associated Works Phase 1, is scheduled to commence in September 2009 and is expected to have occupational permit issued in December 2011 with overall completion in Spring 2012. The Centennial campus will assist the University of Hong Kong in moving towards recognition as a major international research-led university.

Commenting on the contract award today, Balfour Beatty Chief Executive, Ian Tyler, said:

“We are delighted to have been selected by the University of Hong Kong to help deliver a new campus that combines the teaching and learning needs of the 21st century, while respecting the university’s heritage, the environment and the local community.”

The Centennial Campus works comprise three academic buildings including two nine-storey and one ten-storey building, with a three-level basement. The second package involves the construction of West Gate lift tower and footbridge for the future MTR station, an open footbridge to the Chow Yei Ching building and the restoration of three heritage buildings together with landscaping works on the roof of the water reservoir.

ENDS

Analyst/media enquiries:

Duncan Murray
Balfour Beatty plc
Tel 020 7216 6865

www.balfourbeatty.com

Notes to Editors:

1. Gammon Construction is 50% owned by Balfour Beatty and 50% by Jardine Matheson, the major Asian trading and manufacturing group. Gammon is Hong Kong's largest and most successful contractor with over 2,500 employees.
   
   
2. Gammon’s recent significant project wins include the £300 million (HK$3.76 billion) Harbour Area Treatment Scheme for the construction of a sewage conveyance system for the Hong Kong Government, £120 million (HK$1.5 billion) Hennessy Centre redevelopment, the £400 million (HK $4.94 billion) Tamar Development Project in joint venture with Hip Hing Construction for the design and construction of the new Central Government Complex for Hong Kong, the £100 million Gammon Capital Institute of Technical Education PPP project in Singapore, the £190 million Hong Kong-Shenzhen Western Corridor (Hong Kong section), the £149 million Deep Bay Link Northern Section, the £128 million Nam Wan Tunnel, the £40 million Landmark renovation and the £94 million Mandarin Oriental renovation.
   
   
3. Balfour Beatty is a world class engineering, construction, services and investment business, well-positioned in infrastructure markets which offer significant long-term growth. We work in partnership with sophisticated customers who value the highest levels of quality, safety and technical expertise. Our skills are applied in appropriate combinations to meet individual customer need.