Lend Lease Group (ASX:LLC) says subsidiary Actus Lend Lease has been awarded $600 million of work for the US Army.
The work will form the second phase of the Army's privatisation of its lodging program which has a project value of US$350 million.
The program is part of the Army's plan to privatize lodging facilities and is hoped will provide superior hospitality services and facilities for Army and other government travellers through the private sector.
Actus Lend Lease will provide master-planning, development, construction and asset management services and when it completes the portfolio will operate under branded hotels.
Actus Lend Lease is also to undertake additional work on the previously awarded first phase program which has a project value of US$250 million.
Lend Lease Group posted a profit of $348 million for twelve months to 30 June 2010.
LLC Price at posting:
$7.37 Sentiment: None Disclosure: Held
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