18th Feb 2008 09:05
Balfour Beatty PLC18 February 2008 18 February 2008 BALFOUR BEATTY SECURES NEW £74 MILLION CONTRACT ON THE FORTH BRIDGE ------------------------------------------------------------------- Balfour Beatty, the international engineering, construction, services andinvestment group, announces today that it has been awarded a new contract byNetwork Rail to complete the remaining restoration and painting of the ForthBridge. Valued at £74 million, the contract is set to mark the end of a modern myth whenthe painting on the Forth Bridge, which carries the East Coast Main Line northof Edinburgh, comes to an end in 2012. Balfour Beatty Civil Engineering has been undertaking the refurbishment works onthe bridge for the past six years and its successful team will be responsiblefor delivering the new contract. Commenting on the award today, Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted to be continuing our operations for Network Rail on the ForthBridge. Working on this iconic railway structure presents a number of uniquechallenges. However, together with Network Rail, we will be able to build on ourlong-term partnership to complete this challenging and fundamentally importantwork. By 2012, the bridge will be fully restored to its original condition." Announcing the award today, Iain Coucher, Network Rail's Chief Executive, said: "The team currently working on the bridge has now completed some of the mostdifficult work and they have already overcome the most significant challengesthat this project posed. For that reason, we have taken the decision toaccelerate the work and increase the annual investment with the aim ofgenerating long-term financial savings." ENDS Enquiries to: Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors---------------- 1. Balfour Beatty Civil Engineering is the UK's leading civil engineering company. It is currently working on major projects for the A3 bottleneck alleviation at Hindhead and the Devil's Punchbowl, the widening of the M1 between Junctions 6a and 10 and the new Northern Ticket Hall as part of the development of King's Cross Underground Station. Its regional business is working on many projects throughout the UK including the upgrade of the A1 between Bramham and Wetherby in Yorkshire, the infrastructure for East Midlands Parkway, a new park and ride train station to serve East Midlands Airport and the infrastructure for Phase 1 of the Ravenscraig Redevelopment in North Lanarkshire. 2. Balfour Beatty is a world-class engineering, construction, services and investment business, well-positioned in infrastructure markets which offer significant long-term growth. We work in partnership with sophisticated customers who value the highest levels of quality, safety and technical expertise. Our skills are applied in appropriate combinations to meet individual customer need. Balfour Beatty's financial position, with significant net cash and with strong operating cash flows, offers continuing flexibility to add additional capacity and expertise to the business mix and to make appropriate investments in PPP and other long-term growth opportunities. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Balfour Beatty