Macmahon, Leighton win $463m contract

Macmahon Holdings, in joint venture with Leighton Asia, has secured a $463 million contract to provide tunnelling work in Hong Kong.

The MTR Corporation in Hong Kong awarded Leighton Asia, a subsidiary of Leighton Holdings, the contract, to which Macmahon will lend its management expertise and technical support.

Under the contract, the companies will construct tunnels, adits and ventilation buildings in one part of the of a rail express link that connects Hong Kong to mainland China.

Macmahon's share of the contract is valued at $115 million.

Macmahon chief executive Nick Bowen said this was a significant project that highlights the company's emerging international growth opportunities.

"Macmahon is pleased to add to its growing portfolio of overseas work and build on its existing presence in the Hong Kong market," he said.

"Furthermore, we are looking forward to working together with Leighton Asia to undertake this key rail infrastructure project."

Shares in Macmahon, which were yesterday placed in a trading halt, was up three cents to 78c at 11:27 AEDT.