The joint venture between Leighton Holdings's Asia unit and Macmahon Holdings, has won a contract worth $463 million.

The company has to build tunnels and ventilation buildings for the Hong Kong Express rail link. It would cover the Tse Uk Tsuen to Shek Yam section of the Guangzhou - Shenzhen - Hong Kong Express Rail Link (XRL).

The contract is for the construction of link which would be 7.6 kms. twin-track tunnel and the ventilation buildings will be made with 90-meter deep shaft.

Work on the project will start very soon and should get over by 2015.

While Leighton, a large construction and engineering company, will perform the site work while Macmahon will provide all the necessary technical and management expertise.

And as per the deal between the two Australian companies, Macmahon is going to get $115 million because of its participation.

After the announcement, shares of both the companies went up. Leighton shares went up by 1.66 per cent to close at $39.65 and Macmahon went up by 78 cents. It witnessed a rise of 4 per cent.