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Media releases

Leighton Asia wins largest ever project – A$856 million reclamation project in Hong Kong

Issue Date:  17 February 2003
Issued By:  Leighton Holdings Limited

Company Announcements Office
The Australian Stock Exchange Limited
Level 4
20 Bridge Street
Sydney NSW 2000

Re: Leighton Asia wins largest ever project – A$856 million reclamation project in Hong Kong

Dear Sir,

Please find attached a copy of a media release issued by Leighton Asia Limited, a wholly owned subsidiary of Leighton Holdings Limited.

Yours sincerely,

A.J. MOIR
Company Secretary

Leighton Asia wins largest ever project – A$856 million reclamation project in Hong Kong

Issue Date: 17 February 2003
Issued by: Leighton Asia Limited

Leighton Asia, in joint venture with China State Construction Engineering (Hong Kong) Limited and Van Oord ACZ, has secured an A$856 million (HK$3.8 billion) land reclamation project in Hong Kong for the Territory Development Department.  Leighton Asia’s share is A$385 million (HK$1.7 billion).

The contract – Leighton Asia’s largest ever in dollar terms – involves the reclamation of a key section of Hong Kong Harbour to form approximately 18 hectares of land.

Additional works include the construction of:
  • over one kilometre of seawalls;
  • a rail overrun tunnel for the Airport Railway;
  • a one kilometre dual three-lane road tunnel;
  • a heliport;
  • numerous ferry piers, including the famous Star Ferry pier;
  • various roadworks, drainage and pedestrian access;
  • cooling water pumping stations and pipelines

The project will commence on 28 February and is scheduled for completion in September 2007.

Managing Director of Leighton Asia (Northern), Mr Will Hamilton, said the new contract provided a major boost to the company’s workload.

“It’s taken our work in hand to A$1.7 billion, and will provide a solid base for us going forward,” he said.

“It is particularly satisfying to secure a project of this magnitude given the competitive nature of the Hong Kong construction market.”

He said that the company was confident of securing additional projects in the region in the near future.

“We’re well placed on a number of other exciting prospects, not only in Hong Kong but also in the Philippines, Taiwan, Thailand and Vietnam.

“By converting our share of these opportunities, we can look forward to a period of sustained growth,” he said.

Leighton recently secured the final notice to proceed on the A$236 million (US$132 million) North Luzon Expressway in the Philippines, and construction will commence immediately.

Leighton Asia Limited comprises two main operating entities: Leighton Asia (Northern) – which covers operations in Hong Kong, China, Taiwan, Philippines, Thailand, Vietnam and Laos - and Leighton Asia (Southern) – which covers operations in Malaysia, Indonesia, Singapore, Sri Lanka and India.

ENDS.

For further information, please contact:

In Hong Kong
Chris Gordon
Group Communications Manager
Leighton Asia Limited
Phone: (852) 2823 1493
Mobile: (852) 9092 0827
chris.gordon@leightonasia.com
www.leightonasia.com

In Australia
Justin Grogan
Manager, Investor & Media Relations
Leighton Holdings Limited
Phone: (61-2) 9925 6628
Mobile: (61) 0401 146 620
justin.grogan@leighton.com.au