Malthus wins accommodation rental contracts worth £58 million

Norway-based Malthus has won two major temporary accommodation rental contracts. The first is a £28 million deal to build a temporary camp for 850 oil and gas workers on the UK's Shetland Islands, and the second is a £30 million contract at Oslo's Gardemoen airport.

In the Shetlands, Malthus will supply temporary buildings and other facilities for oil services company Petrofac for use on the Total Laggan Development Project. The gas processing plant at Sullom Voe will transport gas from the Laggan and Tormore Fields in the North Sea to Total's St Fergus Gas Terminal near Aberdeen.

Malthus has already started work on the camp and it will be completed in October 2011, with a rental period of three years. The company has established a UK subsidiary, Malthus Ltd, to carry out the work.

At Gardemoen Malthus is building the accommodation camps that will house workers who are constructing the airport's new terminal.

The first phase of the 660 room accommodaton camp will be completed in June with the second half opened by summer 2012. The camp will be used until 2017.

Malthus is building a track record in the supply of such major camps. Last year, for example, it won a €37.5 million temporary accommodation rental contract in Canada with Brazilian mining company Vale.

Malthus has subsidiaries in Sweden, Estonia, Russia, Canada and UK. Although best known for its temporary accommodation business, it also owns an aerial platform sales operation in Sweden.