Keppel, Zhen Hua Win HK$31 Billion Hong Kong Waste-Management Contract
By Gaurav Raghuvanshi
SINGAPORE--Units of Keppel Corp. (BN4.SG) and China Communications Construction Co. (1800.HK) have won a 31 billion Hong Kong dollars (US$3.97 billion) contract to build and operate an integrated waste-management facility in Hong Kong.
Keppel Seghers and Zhen Hua Engineering Co. will build the facility on a reclaimed island off the coast of Shek Kwu Chau, located south of Lantau Island, the Singapore conglomerate said in a statement to Singapore Exchange. Zhen Hua is a unit of China Harbour Engineering Co., a subsidiary of China Communications Construction.
The two companies won the contract via an international tender called by the Hong Kong Environmental Protection Department, according to the Keppel statement.
Keppel's share of the contract is worth HK$11.3 billion, with up to an additional HK$9.6 billion for escalation provisions and other contingencies, it said.
Write to Gaurav Raghuvanshi at email@example.com
(END) Dow Jones Newswires
December 01, 2017 00:16 ET (05:16 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.