Bouygues Wins EUR490m Hong Kong Metro Contract
Through its subsidiaries Dragages Hong Kong and Bouygues Travaux Publics, Bouygues Construction has won a contract worth HK$ 5.2 billion (roughly €490 million) from MTR Corporation for the construction of 2x2 tunnels that will form part of a six-kilometre extension of the Shatin to Central Link.
The tunnels are among the major infrastructure projects currently under way in the city, connecting tourist sites and the financial district.
These two eastern tunnels, each approximately 540 m long, will run from the south ventilation building and the new Exhibition station on the Shatin to Central Link. The two western tunnels, each approximately 450 m long, will be bored between the Fenwick Pier emergency egress point and the existing Admiralty station. Bouygues Construction will also construct the ventilation building.
Philippe Bonnave, Deputy Chief Executive of Bouygues Construction, said: “Bouygues Travaux Publics has achieved the status of a global reference for underground works, following a series of technically complex projects, adapting to the most diverse geologies. This latest success further demonstrates our ability to meet technical challenges and carry out very large-scale infrastructure projects.”
To cope with the complex geological conditions, two different types of tunnel boring machines (TBMs) will be used: a slurry TBM and an earth pressure balanced TBM. The works have just begun, and are scheduled to last for six years, with completion due in 2020. Some 500 people will be working on-site at peak periods.
The 17-kilometre Shatin to Central Link is designed to enhance the entire railway network of Hong Kong by connecting several existing railway lines. When complete, road traffic congestion will be relieved, and travelling time between the New Territories and the city centre will be reduced to about 40 percent of the time currently taken.
Bouygues Construction continues to enjoy dynamic growth in the Hong Kong region. Its subsidiary, Dragages Hong Kong, handed over the Cruise Terminal Building in 2013, and is currently working on two rail tunnels that will form part of the high-speed line connecting Hong Kong and the 16,000-km National High-speed Railway Network, as well as the first stretch of the sea bridge linking Hong Kong and the cities of Zhuhai and Macao. In 2013 it was also awarded a contract to construct a 4.2-kilometre undersea tunnel connecting the New Territories and Lantau Island, the location of international airport.
Cordless power tools market to reach US$26.2bn by 2026
The revenue of the cordless power tools market will grow by a compounded annual growth rate (CAGR) of 10.54% reaching US$26.2bn by 2026, a new Aritzon report predicts. The report provides an in-depth analysis and insights into the impact of COVID-19 on the market, revealing that drills and fastening tools accounted for the highest revenue.
According to the research, this segment of the market generated an additional US$2.37bn expected to increase by a CAGR of 8.49% during the 2020-2026 forecast period. Other findings included APAC having the fastest growth in the cordless power tools market which is expected to grow at a CAGR of 12.34%.
The report divides the market into sections such as tool type, end-user, dynamics, and geography, as well as by country and major vendors, including Stanley, Black & Decker, Bosch, and Makita.
Under market segmentation, the report revealed that the industrial end-user segment, comprising both the automotive and construction industries, generated the most revenue in the cordless power tools market in 2020.
One of the biggest factors increasing the demand for cordless power tools was DIY, including home improvements and wood-crafting. In addition, the residential segment is expected to grow due to more homes and buildings being constructed.
In Geographical terms, America had the largest market for cordless power tools in 2020, a position it is expected to hold during the forecast period. The US is home to several large industries including aerospace, electronics, and packing, in addition to the construction and automotive sectors.
Speedy: The construction equipment and services provider
Speedy, a construction services and equipment company, has invested £10mn (USD) into new products to allow it to uphold its promise of a four-hour guaranteed delivery service. The company launched the service in response to rising customer demand for quicker site deliveries.
The company says the investment will add 25,000 new assets to its most popular products and boost the availability of equipment from its UK and Ireland-based service centres. In the past year, Speedy has made 13,000 four-hour deliveries, increasing by 30% year on year.
Dan Evans, Chief Operating Officer at Speedy, said: “The growing demand for our four-hour delivery promise reflects the value it’s providing our customers, helping them to be more productive and complete projects on time by giving them quick access to essential site equipment.
“This latest investment boosts the availability of our top products throughout the UK. It provides our customers with the reassurance that we can support them to get the job done on time so that they can avoid costly delays to the projects they are working on”, he added.
The four-hour delivery service means that the company guarantees w=equipment to be delivered to a customer anywhere in the UK within four hours of being ordered. If an item is delivered outside of this window, customers receive free hire for a week, Speedy says.