Hochtief JV wins HK metro contract

expat network

Hochtief JV wins HK metro contract

JV led by Leighton Asia, a Hochtief subsidiary has bagged an AU$929m (£504m) contract with Hong Kong’s MTR Corporation for work on the Shatin to Central Link.

Leighton Asia has a 51% share in the joint venture with China State Construction Engineering (Hong Kong).

Leighton Holdings executive chairman and chief executive officer Marcelino Fernández Verdes said: “Securing the largest civil works contract within this project is an excellent achievement and is reflective of Leighton’s experience in delivering transport projects of this size in busy urban areas.

“Demand from growing populations and the need to address infrastructure deficits are resulting in continued growth in infrastructure investment in Asia. In addition to this project, Hong Kong‘s government announced plans last year to further expand its mass transit network in coming years. Leighton Asia is positioned to be a strong contender for future work.”

Leighton Asia managing director Manuel Alvarez Munoz said: “Leighton has developed a strong working relationship with both our JV partner China State and with MTR Corporation. These relationships will contribute to the successful delivery of this high profile project.”

The work, which will begin this month, involves the construction of an underground station (Exhibition Station) and 300m of cut-and-cover tunnel along Convention Avenue (Western Approach Tunnel). The station will serve Hong Kong‘s Convention Centre and the North Wanchai area, completing the new railway link connecting New Territories and north Hong Kong.

Source: The Construction Index

More info: http://tinyurl.com/oo5kgcy

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.