Keller Share News (KLR)

(Sharecast News) - Keller said on Wednesday that its 50:50 joint venture with Bauer Technologies has been awarded a £95m contract to deliver geotechnical work as part of the C23 package on HS2 in the UK.
At peak production, the works will require more than 200 highly skilled experts in ground engineering and foundations, working in a number of varied site locations, Keller said.

It was awarded the contract by EKFB, which is a joint venture of infrastructure companies Eiffage, Kier, Ferrovial Construction and BAM Nuttall. The JV is building the C23 section of the new high-speed line between London and the West Midlands.

The C23 section consists of 80km of high-speed rail infrastructure, including 15 viaducts, over 80 bridges, 7km of green tunnels and 30 million cubic metres of excavation.

The scope of work for the Keller JV - BKJV - is to construct piled foundations for the structures, as well as the construction of secant piled and slurry walls and the installation of pressure relief drains.

Jim De Waele, Keller President Europe, said: "BKJV is a return to our successful partnership with Bauer having previously worked together on the London Underground and Crossrail station projects.

"We're excited to bring our complementary geotechnical capabilities, experience and capacity to one of the most demanding and exciting transport projects in Europe."

Broker Numis said: "In our view this looks like a good reward in the UK, which is a relatively modest part of Keller's business. No change to estimates, but positive for sentiment."