Hard on the heels of word that Aecon, developers of Bermuda’s new multi-million dollar airport redevelopment project, a spokesperson for the Premier’s office stated today, that the recent change in ownership “will not have an impact on the construction of a new terminal at the airport”.
The statement came just a day after word that Aecon agreed to be acquired by CCCC International (CCCI) Holding Limited to the tune of $1.51 billion.
The new deal with the wholly owned subsidiary of China Communications Construction Company Limited, puts Aecon on the global map for more potential growth, while stating that it’s still “business as usual” at Bermuda’s new multi-million dollar airport redevelopment construction site. By joining the third largest construction company in the world, Aecon and Skyport will ultimately benefit.
Responding to a Bermuda Real follow up on the announcement, the Premier’s spokesperson said the new deal “will not have an impact” on the construction of the new terminal.
But the spokesperson added: “The review of the former Government’s privatisation agreement with Aecon is continuing and our aim remains to ensure that Bermuda’s taxpayers get a better deal.”
Aecon’s President has said the sale “will have no impact” on the day-to-day operations of the construction project or Skyport. The company’s management team and Skyport employees, he said, “will remain in place and the new airport will be completed on-time and on-budget with the guarantee of the Canadian Commercial Corporation”, as they “look forward to delivering a state-of-the-art terminal in 2020”.
CCCI, the international Chinese holding company behind the recent acquisition, is one of the world’s largest infrastructure companies, with more than 118,000 employees.
The public company is listed on both the Hong Kong Stock Exchange and Shanghai Stock Exchange, and headquartered in Hong Kong.
CCCI’s subsidiaries include John Holland Group Pty Ltd (John Holland), one of Australia’s largest engineering and construction companies, and Friede and Goldman, Ltd (F&G), a world leader and innovator in offshore architecture and engineering based in Houston, Texas.