Hochtief wins Californian and Canadian contracts
Hochtief has won US$93m (£59m) of new construction contracts in Canada and California through its US subsidiary Flatiron.
The company will expand the Interstate 5 in California and upgrade an industrial facility for oil sands in Alberta, Canada.
In California, Flatiron has been contracted by the state‘s Department of Transportation - to upgrade a two-mile section of the I-5 close to the city of Norwalk, and also to build five bridges and a pedestrian overpass. The contract has a total value of approximately US$74.5m ($47.4m) and the work will take about four years.
The work in Canada involves the US$72m (£45.8m) extension of an industrial facility for the extraction of oil, northwest of the town of Fort McMurray. Flatiron will be building two underground tunnels, renewing the subsoil,and reinforcing the foundations. New tanks will also be built on the stabilised foundations. The facility is due to be completed by 2014.
"Infrastructure projects are a profitable business for Hochtief," said Hochtief CEO Marcelino Fernández Verdes. "With our subsidiaries we are globally well-placed in this market and want to continue growing there in future."
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This article was published on 5 Feb 2013 (last updated on 5 Feb 2013).