Bechtel enjoys revenue rebound
By Sarah Ann McCay15 April 2012
Privately held US contractor Bechtel delivered positive results for 2011, with total revenue of US$ 32.9 billion, which the company described as a ‘solid project performance'. Total revenue was up +18% on the previous year and a strong rebound from 2010's -9% drop over 2009.
The company, which does not report profits, signed new contract awards totalling US$ 53 billion in 2011, more than double 2010's performance. Bechtel said all of its global business units - civil, power, government services, mining & metals and oil, gas & chemicals - had performed well.
In 2011, Bechtel took on new opportunities in South America, Africa, Asia, and Australia including the award of two additional liquefied natural gas (lNG) projects on Australia's Curtis Island, adjacent to Bechtel's ongoing Queensland Curtis lNG project, while its Aviation group won a contract to design and build a new passenger terminal at Muscat for Oman's Ministry of transport and communications.
The contractor ended the year with a project backlog of US$ 104 billion.
Looking ahead, Bechtel said ‘predicting the future is as difficult as ever' but that it will continue to invest in core engineering and construction processes and innovative technologies.