Balfour Beatty joint venture Gammon has won a £378m contract to build a development in a technology business park owned by the Hong Kong government.
Gammon, which is a 50/50 partnership between the FTSE 250 listed company and conglomerate Jardine Matheson, was awarded the contract to develop the scheme at Cyberport in Hong Kong’s Southern District.
Cyberport is currently home to about 1,900 startups and digital technology companies, according to its website. It consists of four office buildings, a hotel and a shopping and entertainment complex.
According to the contract, Gammon will construct a 10-story building offering office space, a data services platform, a multi-functional room and ancillary facilities. The JV will also improve the nearby Cyberport Marine Park.
Gammon had already worked on the foundation and excavation of the scheme.
Kevin O’Brien, chief executive of Gammon, said: “We are delighted that Cyberport has once again selected Gammon to work with them on this expansion project.”
In its last full financial year, Hong Kong-based Gammon posted a slight rise in profits to £63m, with turnover up by £2.1bn. He helped boost Balfour’s numbers throughout the year as it recorded the highest annual profit and revenue of the group.
Balfour Beatty has held its stake in Gammon for nearly 20 years. He acquired his 50 percent stake in 2004 from Skanska for £35.7 million.
Gammon, which comes from a construction business founded in India in 1919, also operates in mainland China and Southeast Asia.
