News: Leighton wins $72 million contract

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Leighton Holdings’ Limited (ASX:LEI) John Holland Group has won a $72 million government contract to rebuild Brisbane's RiverWalk.

 

The RiverWalk was used by about 3,000 people daily before it was washed away in the 2011 Queensland floods.

 

Brisbane City Council and the federal government announced John Holland, part of the Leighton Holdings Group, had won the reconstruction contract.

 

The federal government will provide $54 million in funding over two years, while the Queensland government will cover the remaining $18 million.

 

The new walkway is expected to be completed in mid-2014.

 

Leighton Holdings generated a net profit of $442 million in its 2012 financial year.