Balfour Beatty, the FTSE 250 international infrastructure group, has signed a long-term contract to manage and maintain major trunk roads in the South West of Scotland.
The deal was awarded by the Scottish Ministers and has a total potential value in excess of £125m.
The initial term of the contract is five years, beginning April 1st, and can be extended for another 10.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted to have been selected by the Scottish Ministers to deliver this contract to maintain roads on routes vital to the country's economy.
"We look forward to continuing to work closely with Transport Scotland, building on our successes and bringing innovative and efficient approaches to improving trunk road maintenance."
The South West region covers an area stretching from Stranraer in Dumfries and Galloway to Alexandria in Strathclyde. It includes 681 kilometres of roads and 1,912 structures.
-
Investors pulled £4.2bn from equity funds ahead of Budget tax raidOctober was the third-worst month on record for fund flows, new figures show, as investors sold assets ahead of the Autumn Budget
-
What Keir Starmer's ‘Plan for Change’ means for you - six milestones explainedPrime Minister Keir Starmer has set out six milestones that the public can judge the government by - we reveal Labour's top policy targets
