Re Contract

RNS Number : 0182V

Balfour Beatty PLC

22 May 2008

 



22 May 2008 

BALFOUR BEATTY JOINT VENTURE AWARDED THE $330 MILLION 

281 NORTH TOLL PROJECT IN SAN ANTONIO, TEXAS

Balfour Beatty, the international engineering, construction, services and investment group, announces today that Balfour Beatty Infrastructure Inc, its US civil engineering arm, has been awarded the $330 million design and build contract for the 281 North Toll highway project in joint venture with Fluor by the Alamo Regional Mobility Authority Board of Directors.

The Balfour Beatty joint venture, Cibolo Creek Infrastructure JV (CCI), will be responsible for the construction of two to three new non-toll lanes, beginning in the autumn of 2008. The first phase will involve a stretch from Loop 1604 to Stone Oak Parkway near San Antonio. The second phase involves work between Stone Oak Parkway and the Comal County line. After CCI completes the 7.9 miles of non-toll lanes, it will begin building three new toll lanes in each direction. The project is scheduled for completion 44 months after commencement.

Commenting on the award today, Balfour Beatty Chief Executive, Ian Tyler, said:

'We have been a leading road constructor in Texas for many years and this contract builds on our successful relationship with Fluor, with whom we worked in delivering the $1.1 billion SH130 project, near Austin. There is a very substantial forward road building programme in Texas using a range of financing techniques and Balfour Beatty Infrastructure, where appropriate in combination with Balfour Beatty Capital, is very well placed to play a major part in the future.'

The road will be jointly funded by public funds from the Texas Mobility Fund, toll revenue-backed bonds and financing from the Transportation Infrastructure Finance and Innovation Act (TIFIA), a US Department of Transportation loan programme.

In addition to this project and its work on SH130, Balfour Beatty Infrastructure Inc has been awarded $460 million in road infrastructure projects in Texas over the last four years.

ENDS

Enquiries to:

Tim Sharp

Tel: [phone]

www.balfourbeatty.com

Notes to Editors

1.   Balfour Beatty Infrastructure Inc is the Balfour Beatty Group's civil and specialist engineering arm in

      the US, based in Atlanta. Its principal activities are in Texas and California.

2.   Balfour Beatty recently completed the construction of the $1.1 billion SH130 highway project

      near Austin, also in joint venture with Fluor.

3.   Other major civil engineering projects currently in hand include the $140 million SH45 highway

      project, also near Austin; three major water contracts in California with a total value of $420 million;

      and a $146 million tunnelling contract in North Dorchester, south of Boston.

4.   Balfour Beatty is a world-class engineering, construction, services and investment business, well

      positioned in infrastructure markets which offer significant long-term growth. We work in partnership

      with sophisticated customers who value the highest levels of quality, safety and technical expertise. Our

      skills are applied in appropriate combinations to meet individual customer need.

 

END

 

 

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