5th Jun 2014 06:51
LONDON (Alliance News) - Galliford Try PLC said Thursday that its Infrastructure business has been appointed as a framework contractor to both Lots 1 and 2 of the Midlands Highway Alliance framework.
The Midlands Highway Alliance is the regional highways maintenance procurement partnership established in 2007 between 20 local authorities in the Midlands, and the Highways Agency.
The framework lots have a current project combined value of up to GBP261 million to the appointed contractors, over the initial three-year framework term, said Galliford Try. The Midlands Highway Alliance also retains an option to extend the framework for a further year in March 2017.
Lot 1 of the framework includes projects with a capital value of up to GBP5 million, expected to total GBP70 million over the framework lifecycle. Lot 2 extends to all projects between GBP5 and GBP25 million, with a total pipeline of up to GBP191 million, said the company.
Galliford Try will undertake works such as road reconfigurations, resurfacing, waterproofing, enabling works, and the design and delivery of new bridges and carriageways under the terms of the framework.
The company said it anticipates that it will be allocated works with a total value of GBP81 million under both framework lots; projects completed under Lot 2 will be completed in joint venture with Aggregate Industries, a construction materials group.
"We already have a strong track record in both highways and construction, particularly in the Midlands where we are currently progressing the £52 million A45/A46 Tollbar End Improvement project. This new framework appointment is an outstanding opportunity to build on that success," said Galliford Try Chief Executive Greg Fitzgerald.
Shares in the housebuilding and construction group last traded at 1,138 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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