Hochtief to Dig $179 Million Tunnel for Austria Hydropower Plant

Hochtief AG, Germany’s biggest builder, won an order worth 132 million euros ($179 million) to construct a tunnel for an Austrian hydropower plant project.

The 22.6-kilometer (14-mile) tunnel for the Gemeinschaftskraftwerk Inn plant is scheduled to be completed in mid-2018, Hochtief, which is controlled by Spain’s ACS Actividades de Construccion y Servicios SA, said today in an e-mailed statement. The project will eventually generate renewable electricity for about 100,000 homes, it said.

The power plant project is owned by Verbund AG, Tiroler Wasserkraft AG and Engadiner Kraftwerke AG, it said.

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