Re Contract

RNS Number : 7128Z

Carillion PLC

15 December 2014

Carillion consortium achieves financial close on £550 million Aberdeen Western Peripheral Route/Balmedie to Tipperty project

Further to the announcement made by Carillion on 12 June that Connect Roads consortium, now known as Aberdeen Roads Limited, comprising Carillion, Balfour Beatty and Galliford Try, had been appointed as the preferred bidder to finance, design build and operate the Aberdeen Western Peripheral Route/Balmedie to Tipperty Project (AWPR/B-T), Carillion announces today the consortium has now achieved financial close on this project.

The project, which is estimated to be worth in the region of £550 million, is being delivered in partnership with Transport Scotland, Aberdeen City Council and Aberdeenshire Council and is being procured under the Scottish Government's Non-Profit Distribution (NPD) model.

Carillion expects to invest up to £20 million of equity (one third share) in the project and to have a one third share of the construction revenue. Following the completion of construction in winter 2017, the route will be managed and maintained by Aberdeen Roads Limited for 30 years.

Carillion Chief Executive, Richard Howson said: "We are delighted that our consortium has achieved financial close on the Aberdeen Western Peripheral Route/Balmedie to Tipperty project, which is the largest of its kind in Scotland to date. The project is firmly in line with Carillion's selective approach to construction, namely of focusing on large, high quality projects, notably those involving integrated solutions. We look forward to working closely with Transport Scotland, Aberdeen City Council and Aberdeenshire Council to deliver this major improvement to the transport network around Aberdeen."

Notes to Editors

Carillion is a leading integrated support services company with a substantial portfolio of Public Private Partnership projects and extensive construction capabilities. The Group had annual revenue in 2013 of some £4.1 billion, employs around 40,000 people and operates across the UK, in the Middle East and Canada.

The Group has four business segments.

Support services - this includes facilities management, facilities services, energy services, utility services, road maintenance, rail services and consultancy services.

Public Private Partnership (PPP) projects - this includes investing activities in PPP projects for Government buildings and infrastructure, mainly in the Defence, Health, Education, Transport and Secure accommodation sectors.

Middle East construction services - this includes building and civil engineering activities in the Middle East.

Construction services (excluding the Middle East) - this includes building, civil engineering and developments activities in the UK and construction activities in Canada.

This and other Carillion news releases can be found at www.carillionplc.com

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