CIMIC Group company, Leighton Asia, has been selected by IKEA Group to construct its first retail outlet in Hyderabad, India.
The contract will generate revenue of approximately A$70.4 million1 for Leighton Asia, which is part of CIMIC Group construction company CPB Contractors.
CIMIC Group Chief Executive Officer Adolfo Valderas said: "We are pleased to be the key player in delivering IKEA’s flagship store in India and to contribute our international experience and local expertise to ensure an efficient and effective construction program.
"Not only is this a major milestone for IKEA but it is also one of significance for CIMIC Group and Leighton Asia in terms of securing this important contract with one of the world’s biggest home furnishing brands."
CPB Contractors and Leighton Asia Managing Director Román Garrido said: "Leighton Asia’s building expertise and proven track record in project delivery positions us strongly within India’s construction market and for developments such as this for IKEA.
"We are looking forward to developing a strong working relationship with IKEA India."
The construct-only contract includes the delivery of civil and structural works; mechanical, electrical and plumbing services; and façade and external works associated with a retail store and warehouse building, across a 5.2 hectare site with a total built-up area of approximately 40,000m2 plus parking.
The IKEA retail outlet comprises five floors, including two basement levels for parking and three levels for a market hall, warehouse, showroom, restaurant and home delivery area, as well as a play area and day care centre for children.
Construction has commenced and completion is targeted for early 2018.
1 Using the exchange rate of US$1=A$1.39
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CIMIC Group Limited
CIMIC Group Limited (ASX: CIM) is one of the world's leading international contractors and the world's largest contract miner. CIMIC Group has operations that have been in existence since 1934, was listed on the Australian Securities Exchange in 1962 and has its head office in Sydney, Australia. CIMIC provides construction, mining, mineral processing, engineering, concessions, and operation and maintenance services to the infrastructure, resources and property markets. It operates in more than 20 countries throughout the Asia Pacific, the Middle East, North and South America and Sub-Saharan Africa and, as at 31 December 2016, employed approximately 50,500 people directly and through its investments.
