21st Sep 2015 07:58
LONDON (Alliance News) - Construction and support services company Balfour Beatty PLC on Monday said its joint venture with FTSE 250 peer Carillion PLC has won a GBP292.0 million contract with Highways England.
Under the deal, the Balfour-Carillion joint venture will handle the construction work on the upgrade of the A14 between Swavesey and Milton, part of the wider A14 Cambridge to Huntingdon improvement scheme.
The work involves widening a stretch of the A14, along with junction rebuilds and a number of services diversions.
Construction work is due to start in late 2016, subject to planning permission, and the upgraded A14 is due to open to traffic by 2020.
"This is a complex project and our joint venture brings proven expertise and experience in working as part of an integrated delivery model - something which is going to be crucial for the successful delivery of this project," said Leo Quinn, Balfour's chief executive.
"We are delighted to have been selected to deliver this package of the A14 improvement programme. This contract is firmly in line with our selective approach to construction, namely of focusing on large, high-quality projects for long-term customers," added Carillion Chief Executive Richard Howson.
Shares in Balfour were down 0.2% to 252.00 pence on Monday morning, while Carillion shares were down 0.6% to 307.50p.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Balfour BeattyCarillion Plc