Kier Group secures £170m contract for London project

LONDON (ShareCast) - Construction and services company Kier Group (LSE: KIE.L - news) has been awarded a £170m contract by Greenland Group as part of a major regeneration scheme in Wandsworth, London. Kier will deliver the first phase of The Ram Quarter project, which comprises of three stages worth a total of £600m, including a 411,000sq ft of new build residential and retail space.

The project will also include a 56,000sq ft refurbishment and remodelling of the Grade II listed brewery complex, to create restaurants, boutique shops, cafés and bars, a micro-brewery, a brewery museum and residential units.

The FTSE 250 group said work will begin this month as is expected to be completed early in 2017.

"Kier has extensive experience in major mixed-use and regeneration projects in London and our breadth and depth of experience has positioned us to become a partner of choice for major city regeneration schemes," said group chief executive Haydn Mursell.

Kier shares were up 0.31% 1,635.00p at 09:34 on Thursday.