Balfour Beatty PLC
18 February 2008
18 February 2008
BALFOUR BEATTY SECURES NEW £74 MILLION CONTRACT ON THE FORTH BRIDGE
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Balfour Beatty, the international engineering, construction, services and
investment group, announces today that it has been awarded a new contract by
Network Rail to complete the remaining restoration and painting of the Forth
Bridge.
Valued at £74 million, the contract is set to mark the end of a modern myth when
the painting on the Forth Bridge, which carries the East Coast Main Line north
of Edinburgh, comes to an end in 2012.
Balfour Beatty Civil Engineering has been undertaking the refurbishment works on
the bridge for the past six years and its successful team will be responsible
for delivering the new contract.
Commenting on the award today, Balfour Beatty Chief Executive, Ian Tyler, said:
'We are delighted to be continuing our operations for Network Rail on the Forth
Bridge. Working on this iconic railway structure presents a number of unique
challenges. However, together with Network Rail, we will be able to build on our
long-term partnership to complete this challenging and fundamentally important
work. By 2012, the bridge will be fully restored to its original condition.'
Announcing the award today, Iain Coucher, Network Rail's Chief Executive, said:
'The team currently working on the bridge has now completed some of the most
difficult work and they have already overcome the most significant challenges
that this project posed. For that reason, we have taken the decision to
accelerate the work and increase the annual investment with the aim of
generating long-term financial savings.'
ENDS
Enquiries to:
Tim Sharp
Tel: 020 7216 6884
www.balfourbeatty.com
Notes to Editors
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1. Balfour Beatty Civil Engineering is the UK's leading civil engineering
company. It is currently working on major projects for the A3 bottleneck
alleviation at Hindhead and the Devil's Punchbowl, the widening of the M1
between Junctions 6a and 10 and the new Northern Ticket Hall as part of the
development of King's Cross Underground Station.
Its regional business is working on many projects throughout the UK
including the upgrade of the A1 between Bramham and Wetherby in Yorkshire,
the infrastructure for East Midlands Parkway, a new park and ride train
station to serve East Midlands Airport and the infrastructure for Phase 1 of
the Ravenscraig Redevelopment in North Lanarkshire.
2. 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. Balfour Beatty's financial position, with
significant net cash and with strong operating cash flows, offers continuing
flexibility to add additional capacity and expertise to the business mix and
to make appropriate investments in PPP and other long-term growth
opportunities.
This information is provided by RNS
The company news service from the London Stock Exchange
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