Balfour Beatty Plc’s JV Gammon bags HK$12.88 billion contract

Balfour Beatty Plc’s (LON: BBY) 50:50 JV (joint venture), Gammon, has been awarded a four-year HK$12.88 billion or around £1.27 billion contract.

  • The contract for the expansion of Terminal 2 at Hong Kong International Airport has come the Airport Authority Hong Kong.
  • The contract to Gammon is the largest single contract ever awarded to it and makes it the second significant contract for the Airport Authority Hong Kong this year.
  • The company has stated that Gammon will be engaged for the expansion of the main Terminal 2 building and construction of interconnecting bridges. It will also be responsible for the electrical and mechanical works as well as related viaducts and lanes.
  • On 24 August 2020, at the time of writing, GMT 09:06 AM, BBY shares were trading at GBX 239.00, up by 3.40 points or 1.44% against the previous day closing price.