Macmahon sells HK rail stake

Group sells 25% share of Express Rail Link project in Hong Kong to Leighton Asia.

Macmahon Holdings (MAH) has sold its 25% share of the Express Rail Link project in Hong Kong to Leighton Asia.

In a statement to the Australian Securities Exchange, Macmahon chief executive officer Ross Carroll said the sale marked the end of Macmahon’s legacy construction projects, allowing the company to focus solely on its mining business.

Macmahon also confirmed that works at the Trangie Nevertire Irrigation Scheme project in New South Wales are scheduled to be completed in the first week of November 2013. 

The group said the exit and completion of these two projects is not expected to have a material impact on its fiscal 2014 result. 

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