31st Mar 2014 10:00
LONDON (Alliance News) - Babcock International Group PLC Monday said its Cavendish Fluor Partnership has been selected as the preferred bidder in the competition for a GBP7 billion contract to take ownership of Magnox Ltd and Research Sites Restoration Ltd, the site licence companies for 12 UK nuclear sites.
The joint venture was named the lead bidder by the Nuclear Decommissioning Authority.
In a statement, Babcock Chief Executive Peter Rogers said the joint venture between its subsidiary Cavendish Nuclear and Irving, Texas-based Fluor Corp, had shown its ability to deliver nationally important projects.
"The announcement that Cavendish Fluor Partnership has been chosen as preferred bidder for one of the UK's biggest and most significant nuclear site management and decommissioning contracts reflects not only the market leadership of Cavendish Nuclear in nuclear engineering services but also its ability to successfully deliver complex projects of national significance in very demanding environments," Rogers said.
Babcock and the Nuclear Decommissioning Authority said they anticipated the contract will provide savings in excess of GBP1 billion in the decommissioning programme for the 12 nuclear sites.
Babcock shares were Monday quoted at 1,336.00 pence, up 3.4%, putting them atop the FTSE 100.
By Samuel Agini; [email protected]; @samuelagini
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