10th Nov 2014 09:13
LONDON (Alliance News) - Carillion PLC, Costain Group PLC and Morgan Sindall Group PLC Monday said they have been selected by the UK Highways Agency as three of five contractors that will deliver highway schemes with values between GBP100 million and GBP450 million.
The agency is planning to invest some GBP5 billion in England's motorways and A roads over the next five years, and the collaborative framework deal it is awarding to contractors to undertake the work is the largest the agency has ever awarded.
"Of the GBP5 billion of planned investment, approximately GBP2.7 billion will be spent on schemes valued at between GBP100 million and GBP450 million. As one of five contractors appointed to deliver these schemes, Carillion expects to generate up to some GBP500 million of revenue from the Framework over the five year period," Carillion said in a statement.
Costain didn't say how much it thinks it will earn from being part of the framework, but said the lot to which it has been appointed is expected to be worth about GBP3.0 billion in total.
Morgan Sindall, meanwhile, has been selected as part of a joint venture, and expects the work awarded to the venture to be worth up to GBP150 million a year.
By Steve McGrath; [email protected]; @stevemcgrath1
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