Jul 1, 2021

Henry Construction turnover reaches more than £375mn

HenryConstruction
projects
growth
construction
2 min
Contractor Henry Construction has revealed its annual turnover reached £376.6mn for the year leading up to 30 June 2020

Concrete contractor Henry Construction Projects Ltd has seen a rise in its turnover to £376.6mn in the past year up to 30 June 2020, representing an annual increase of more than £70mn. In addition, the company increased its pre-tax profit from £10.8mn to 12.9mn - an increase of 25% - in the same period. 

Former specialists in groundworks, civil engineering, and reinforced concrete structures, Henry Construction Group operates in the public and private sectors as a contractor working on residential and mixed-residential projects. Mark Henry, Director of Henry Construction Projects Ltd, said: “Our five-year strategic business plan targets a balanced spread across these sectors, with planned consolidation in the market and steady growth targeted when the right opportunities emerge”. 

In 2015, Henry Construction’s turnover was £50mn, demonstrating a £327mn increase over six years. The company says this is growth rate is being fuelled by a “strategic move” to accommodate larger construction projects and has transformed the business. 

The Arc Project 

Earlier this year, Henry Construction secured an order to construct a mixed residential and office tower block as part of a project named “The Arc”. Built close to Silicon Roundabout in London, it was designed by the architect AHMM and resembles 19th Century red brick buildings in New York and Chicago. 

The Arc is split between six floors of office space in the building’s long podium topped with 16 storeys of luxury flats.

 

The Arc Tower. Image: Henry Construction Projects Ltd.

 

225 City Road, the site on which the building was constructed, has been used as a temporary car park since the mid-1990s and, at the time of building, was the last vacant site in the area, which has been developed in recent years as a city fringe cluster of mainly residential towers.

In addition, the company recently secured its second phase of the Guinness Partnerships 900-ho,e Imperial Wharf Scheme located at Bromley by Bow. Mark Henry said of the scheme: “The outlook is positive and our order book remains healthy. Our progress in recent years, despite challenging economic conditions including Brexit and a pandemic, is a reflection of the strategic focus we have committed to, aimed at meeting customer needs and ensuring that HPLC provides deliverable, quality, and safely conducted schemes”. 

Image: Boiler House, one of Henry Construction's projects. (Source: Henry Construction Projects Ltd).

Share article

Aug 3, 2021

Masdar, PT PLN begin work on floating PV solar project

Masdar
PTPLN
SolarPV
projects
2 min
Masdar and Indonesian electrical power organisation PT PLN and have started constructing a 145MW photovoltaic (PV) floating solar project in West Java

UAE-based renewable energy company Masdar, in partnership with PT PLN, an organisation specialising in electrical power and owned by the Indonesian government, has announced today it has started work on a floating photovoltaic (PV) solar project in West Java. The company says the 145MW plant is the first of its kind in the country. The project, which will be constructed on the Cirata reservoir in West Java, was financed by the Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank. 

Developing the project is PT Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), a joint venture between Masdar and PT PLN subsidiary PT PJBI. Bahlil Lahadalia, Minister of Investment for the Republic of Indonesia and chairman of the Indonesia Investment Coordinating Board, said: “This is a flagship project of the UAE’s investment in Indonesia, and most importantly, it is in line with the Indonesian Government’s target to increase renewable energy by 23% by 2025.”

Ladhadalia added: “The Ministry of Investment fully supports the investment realisation of the Cirata Floating Solar Project by PT PJBI and Masdar.” The plant is said to be the largest in south-east Asia, and one of the biggest in the world. Around 800 jobs will be created during its construction phase. 

During the project’s development, Masdar has conducted several social initiatives to raise awareness of sustainability and strengthen the engagement of the local community. Talking about the partnership with Masdar, Amir Faisal, president director of PJBI, said: “We see tremendous potential for similar projects in Indonesia and we look forward to continuing our fruitful collaboration with Masdar to work on more renewable energy projects and help our nation achieve its clean energy objectives. 

“This floating power project is a first for Indonesia and is also a significant step in PJBI’s renewable energy journey,” he added. 

 Facts about solar energy

  1. Solar power is the most abundant energy source on earth: There’s enough solar energy reaching the earth every hour to meet all of humanity’s power needs for a whole year.
  2. The cost of solar panels has fallen by 99% since 1977: The price per watt for a single solar cell in 1977 was US$77. Today that same cell costs Us$0.21 per watt US$0.39 per watt for an assembled module, according to the Solar Energy Industries Association.
  3. China is the global leader in solar energy: Whilst solar power is increasing in popularity in the US, China is currently the country with the biggest uptake. Research conducted by GTM in 2017 predicted that the US would install 12.4GW of solar power during that year. China, on the other hand, installed 24.4GW of power in the first half of 2017 alone. 


Image: Masdar

Share article