The contract will generate revenue of approximately A$70.4 million1 for Leighton Asia, which is part of CIMIC Group construction company CPB Contractors.
CIMIC Group Chief Executive Officer Adolfo Valderas said: “We are pleased to be the key player in delivering IKEA’s flagship store in India and to contribute our international experience and local expertise to ensure an efficient and effective construction program.
“Not only is this a major milestone for IKEA but it is also one of significance for CIMIC Group and Leighton Asia in terms of securing this important contract with one of the world’s biggest home furnishing brands.”
CPB Contractors and Leighton Asia Managing Director Román Garrido said: “Leighton Asia’s building expertise and proven track record in project delivery positions us strongly within India’s construction market and for developments such as this for IKEA.
“We are looking forward to developing a strong working relationship with IKEA India.”
The construct-only contract includes the delivery of civil and structural works; mechanical, electrical and plumbing services; and façade and external works associated with a retail store and warehouse building, across a 5.2 hectare site with a total built-up area of approximately 40,000m2 plus parking.
The IKEA retail outlet comprises five floors, including two basement levels for parking and three levels for a market hall, warehouse, showroom, restaurant and home delivery area, as well as a play area and day care centre for children.
Construction has commenced and completion is targeted for early 2018.
1 Using the exchange rate of US$1=A$1.39