Major orders in Australia worth €170 million
July 21, 2010
July 21, 2010
Strong demand for infrastructure projects continues: Bilfinger Berger wins major orders in Australia worth €170 million
Valemus, Bilfinger Berger’s Australian subsidiary, continues to benefit from the country's investment in transport infrastructure: The company has won two major orders for the expansion of highway sections worth a total of €170 million.
In the state of New South Wales, the company is building another section of the Pacific Highway. The 8.6-kilometer four-lane bypass around the city of Bulahdelah is the final link in the southern part of this long-distance route. Extensive excavation work will be required for the new section, which will also entail the construction of twelve bridges, a major interchange and several kilometers of noise barriers. The new highway section is due to go into service in late 2012.
In Queensland, the company has received an order for the design and construction of a 4.2-kilometer section of the Bruce Highway. As the route will run through an area of tropical rainforest, the requirements placed on environmental protection are particularly high. The project is based on an alliance contract, an arrangement featuring a partnership approach and a well-balanced risk structure. For example, due to the difficult weather conditions, the construction period for this project is not fixed. The alliance partners aim for completion by the end of 2012.
Bilfinger Berger still intends to sell shares in its Australian subsidiary on the stock market. The sale proceeds are to be applied for the further expansion of the Group's services activities. Until the IPO, Bilfinger Berger’s business activities in Australia will be accounted for separately as discontinued operations.
