5th Mar 2008 07:01
Balfour Beatty PLC05 March 2008 5 March 2008 OVER $1.2 BILLION OF MAJOR NEW ORDERS FOR BALFOUR BEATTY IN THE US Balfour Beatty, the international engineering, construction, services andinvestment group, announces today that it has been awarded over $1.2 billion ofmajor new project work in the US. In a joint venture with Clark Construction, Balfour Beatty Construction US hasbeen awarded a $640 million contract to design and build additions andrenovations at the Walter Reed National Military Medical Centre at the NavalBase in Bethesda, Maryland. The addition and renovated space, totalling nearly1,000,000 square feet, includes surgery, critical care, musculoskeletal,neurosciences, cardiovascular, cancer treatment, children's health, emergencyservices, medical office building, utilities and parking. Balfour Beatty Construction US has also been awarded a $196 million design andbuild contract to construct new training facilities for the US Army Corps ofEngineers at Fort Lee, Virginia. The facilities include classrooms, workshops,laboratories and administration offices within five buildings, totalling nearly800,000 square feet. The project will be completed in 27 months. The company isalready working on the $110 million Logistics University contract at Fort Lee. In Orlando, Florida, Balfour Beatty Construction US has been awarded apreliminary contract for a major expansion of the Peabody Hotel, theconstruction value of which is approximately $250 million. The project, whichwill provide in excess of 1.3 million square feet, includes a 35-floor hoteltower accommodating 750 luxurious guest rooms and suites, a convention centreand the renovation of the existing hotel. The project is to be carried out overthe next 33 months. To add to its $120 million Freeport Water Intake Facility contract, awarded in2006, and the $93 million Folsom South Canal Connection contract, awarded in2007, and reflecting its strong presence in the provision of water treatment andwater handling facilities in California, Balfour Beatty Infrastructure Inc hasbeen awarded a $207 million contract to construct the Vineyard Surface WaterTreatment Plant by Sacramento County Water Agency. This 45-month project willcreate a facility which will provide up to 100 million gallons per day ofcapacity. Also included is a two-storey administration and operations centrecovering 35,500 square feet. Commenting on these awards, Ian Tyler, Balfour Beatty Chief Executive, said: "These four new projects, which will create new infrastructure for federal,municipal and private commercial customers, demonstrate the continuing strengthof our US contracting businesses and the markets which they serve. Thesebusinesses have a very substantial pipeline of opportunities and I look forwardto being able to announce further significant awards as the year progresses." ENDS Enquiries to:Tim SharpTel: 020 7216 6884www.balfourbeatty.com Notes to Editors---------------- 1. Balfour Beatty Construction US was acquired as Centex Construction in March 2007. 2. The company is a leading building and building management group in Texas, Florida, North Carolina and the Washington DC region and is also a major participant in the military housing market across the US. 3. Since it became part of the Group, Balfour Beatty Construction's performance has exceeded expectations. It has a record order book and is a long-term partner to GMH, the military accommodation specialist, which Balfour Beatty agreed to acquire in February of this year. 4. 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:
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