Leighton wins Hong Kong transport infrastructure project

The Asian arm of Australian developer and construction group Leighton has won a $656 million contract to expand the railway infrastructure in Hong Kong.

Hong Kong is one of the world’s most sought after and actively traded property markets with mainland developer China Overseas Land & Investment saying today that it is aiming for at least HK$100 billion ($12.3 billion) in Hong Kong residential property sales this year.

The contract (Contract 1112) with the MTR Corporation, operator of Hong Kong’s metro and railways, is to construct extensions to Shatin to Central Link (SCL) line.

The project will connect several existing railway lines to form two strategic railway corridors and includes significant modification works to an existing MTR station, platforms, tunnel box and approach tunnels.

In his column today, hotspotting.com.au’s Terry Ryder writes that the "greatest creator of capital growth is infrastructure" on the back of new investment in plans to build a rail link and export port infrastructure tied to the new Queensland mining boom province, the Galilee Basin.

The Hung Hom Station and Stabling Sidings Contract 1112 is the seventh contract in the past three years to be awarded to Leighton Asia by the MTR Corporation.

Construction works are scheduled to begin immediately, with an expected completion date in 2018.

Leighton Asia will also design and build a new hospital in Tin Shui Wai as part of a $370 million contract.