1st Mar 2007 07:03
Balfour Beatty PLC01 March 2007 1 March 2007 BALFOUR BEATTY SIGNS CONTRACT FOR UP TO £550 MILLION EASTERN OVERHEAD LINE ========================================================================== AND CABLE ALLIANCE WITH NATIONAL GRID PLC ========================================= Balfour Beatty, the international engineering, construction and services group,announces today that it has signed a contract with National Grid for a newfive-year alliance, likely to be worth approximately £550 million, to upgradeand develop the electricity transmission network in the eastern half of England.There is an option to extend the alliance for a further five years. Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted to have signed this innovative contract with National Grid astheir alliance partner and to be given the opportunity to utilise BalfourBeatty's design, planning, project management, engineering and constructionskills, in combination. Our ability to deliver a multi-disciplinary, integratedservice is an increasingly important factor in driving our growth and inenhancing our relationships with blue-chip infrastructure customers." The alliance contract, which is part of one of the largest procurement exercisesundertaken by National Grid, will support their increased investment in theelectricity transmission network and contribute to long-term security of supply.The works are required to connect new infrastructure such as wind farms and newgeneration plant to the Grid. They will also cover the enhancement andreplacement of existing assets. The contract, which will come into force in March 2007, is one of two overheadline and four sub-station alliance contracts due to be signed by National Gridin the coming weeks. Balfour Beatty is the leading UK supplier of power transmission and distributionnetworks to the international power supply industry. It is also a partner toNational Grid in its 30-year gas mains network replacement programme for theNorth West of England, under an eight year alliance contract worth approaching£400 million. ENDS Enquiries to:-------------- Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors---------------- 1. The contract will be delivered using the skills and resources of BalfourBeatty Power Networks, the leading specialist in the design and construction ofpower transmissions and distribution networks, and Balfour Beatty Management,the Group's professional and technical services company which specialises inprogramme and project management and technical management consulting. 2. Balfour Beatty is a world-class engineering, construction and services group,well positioned in infrastructure markets which offer significant growthpotential. Its partnerships with public and private customers generate secure,long-term income. Its financial position, with significant net cash and withstrong operating cash flows, offers continuing flexibility to add additionalcapacity and expertise to the business mix and to make appropriate investmentsin PPP/PFI and other long-term growth opportunities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Balfour BeattyNational Grid