Last checked at 21 Jun 2007 07:00
For immediate release Thursday, 21 June 2007
Keller Group plc Major Contract Wins in the Middle East
Keller Group plc ("Keller" or "the Group"), the international ground engineering specialist, has recently been awarded contracts valued at around US$110m (‚£55m) for piling and ground improvement works in the Middle East.
Three separate contracts, totalling around US$80m (‚£40m), are part of the development of a new petrochemical complex for Saudi Kayan, the Saudi Arabian petrochemical company, in Al-Jubail, Saudi Arabia*. Piling work is already underway with peak activity, employing some 10 piling rigs and five vibro rigs, anticipated by September. Approximately half of the work is expected to be completed in Keller's current financial year ending 31 December 2007.
In the United Arab Emirates, the Group is currently working on two contracts valued at around US$30m (‚£15m) at Al Raha Beach. Keller is undertaking sand compaction and installing stone columns on some 2.4 million m‚² of reclaimed land as part of a luxury leisure and residential development along the highway between Abu Dhabi and Dubai. Keller's contract is scheduled for completion in approximately fifteen months' time.
*Contracts awarded to Keller Turki Co. Ltd, a 65%-owned subsidiary of the Keller Group.
Justin Atkinson, Keller Chief Executive, commented:
"Our increased strategic focus in the Middle East, coinciding with the local construction boom, is creating excellent opportunities for the Group in this region.
"These contract awards have contributed to an all-time high order book for the Group as a whole, creating a strong platform as we move into the second half of the year."
For further information, please contact:
Keller Group plc Justin Atkinson, Chief Executive 020 7616 7575James Hind, Finance Director Smithfield 020 7360 4900
Rupert Trefgarne
KELLER GROUP PLC