AUST BUILDER LEIGHTON EXPECTS ABOUT US$ 3.7 BLN OF PJTS IN NEAR FUTURE

Wed. November 04, 2009; Posted: 10:23 PM

SYDNEY, Nov 05, 2009 (AsiaPulse via COMTEX) -- LGTHF | Quote | Chart | News | PowerRating -- Australian construction company Leighton Holdings Ltd (ASX:LEI) expects to be awarded billions of dollars worth of new contract work in the near future on infrastructure projects and liquefied natural gas (LNG) projects.

Chief executive Wall King says Leighton is the preferred contractor on a series of bids.

"There is about A$4 billion (US$3.65 billion) worth of contracts that we are sitting there as preferred, and I expect that there will be significant announcements made in the next couple of days," Mr King told journalists on Thursday.

Leighton has won about A$1 billion of contracts as a result of government stimulus spending on infrastructure projects and Mr King expects "a lot more to come".

He said Leighton had a A$1 billion of work on hand through the massive Gorgon LNG project in Western Australia and he was "confident" it would win another A$1 billion worth there in the "very near future".

Mr King said also indicated there was more than enough work available in the Middle East despite a slowdown in Dubai.

Mr King received a A$12.5 million 2008/09 remuneration package, down 24 per cent than the A$16.5 million he received in 07/08.

There had been some expectation of a shareholder backlash but it was not a big issue in shareholder time.

Mr King later told journalists about 90 per cent voted in favour of the remuneration report.

"If that was a fire storm then my life is pretty easy," Mr King said.

(AAP) rw

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