25th Jun 2014 07:09
LONDON (Alliance News) - Babcock International Group PLC and Balfour Beatty PLC Wednesday said their joint venture has been given the green light for the third phase of a contract to construct a new maintenance facility for Sellafield Ltd in a deal worth GBP160.0 million, which will be used to retrieve radioactive waste from silos.
The joint venture, 55% owned by Babcock International's nuclear support services organisation, Cavendish Nuclear, with the remaining 45% owned by Balfour Beatty, will begin work on the third phase of the third phase immediately.
"The joint venture...will construct a new facility to service equipment to be used in the retrieval of historic radioactive waste from silos - a high-priority for hazard reduction at Sellafield. Built to exacting nuclear standards, it will provide for receipt, decontamination, inspection, maintenance and storage of retrieval equipment," Babcock said in a statement, adding that the joint venture will also train Sellafield's employees in the operation of the facility.
The final phase comes after the GBP5.5 million preliminary design phase and the GBP12.5 million detailed design and enabling works phase. Balfour Beatty said that work is scheduled to complete in autumn 2017, while Babcock said construction is expected to complete by 2017.
"The UK infrastructure market includes significant opportunities for nuclear decommissioning and clean-up activities. Similarly, new nuclear build and the construction of new power generation projects will bring us an opportunity to deploy our extensive experience," Balfour Beatty Executive Chairman Steve Marshall.
Babcock shares were up 0.4% at 1,154.00 pence at the open Wednesday, while Balfour Beatty shares were down 0.3% at 228.70p.
By Samuel Agini; [email protected]; @samuelagini
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