Hochtief in US$ 646 million contract wins

Flatiron's share of the contract is worth € 54.6 million (US$ 77.7 million). The joint venture will construct the new, 64 m high and 369 m long Calaveras Dam. Preparations for the project are scheduled to begin this summer and construction is set to be completed by the end of 2015.

In addition, Flatiron won a € 28.4 million (US$ 40.5 million) contract to build bridges over the Columbia River in the Canadian Rockies, together with a € 27.3 million (US$ 38.9 million) contract to replace a viaduct over the Los Angeles River in California. The Canadian bridge project is scheduled for completion by December 2012, while the viaduct project will be completed by the end of 2015.

The company said it had been awarded a further 29 infrastructure projects, most of them smaller in size, in California, Utah, and Colorado. Many of these are for electrical work, such as new traffic lights, and have a total volume of € 45.5 million (US$ 64.8 million).

Meanwhile, Hochtief's new contracts in Europe include building three 700 m long tunnels in downtown Stockholm, Sweden, and replacing an existing bridge in the city. The project is scheduled for completion by April 2017.

The company is also constructing the Straßwalchen bypass in the state of Salzburg, Austria - a project that is due to be completed by January 2014. In addition, Hochtief won a further contract to renovate a building at Ruhr University in Bochum, Germany, by March 2013.