Global infrastructure group Balfour Beatty has been selected as the preferred bidder for a contract to maintain Suffolk's highways over a period of five years, with the possibility of an extension to 10 years.
Over the initial five years, the contract is worth £200m and if approved will mean that Balfour Beatty Living Places will be responsible for the design and implementation of highway maintenance and improvement works, winter gritting, street lighting, traffic signals and bridge works throughout the county.
Currently, the decision for awarding the contract remains subject to formal legal procedures.
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
The company reported that the council said the procurement process identified Balfour Beatty as the contractor "best placed to meet their needs and deliver high quality service to Suffolk residents and visitors".
If awarded the contract, Balfour Beatty will also improve the availability of information about work on the highway, achieve savings of £2.0m in 2013-14, improve Suffolk's environmental performance and contribute to the local economy through the use of local companies, commitment to apprenticeships and action to raise skill levels.
Ian Tyler, CEO said: "We are delighted to be chosen preferred bidder by Suffolk County Council for the highways maintenance contract. Once again Balfour Beatty Living Places has shown that it can deliver a high quality service to local authorities at a price that is right for the taxpayer.
"As well as continuing to provide excellent highway services, we will also be concentrating on supporting the local economy through opportunities for local people, especially young people, offering apprenticeships and enhancing skills. We will also be employing local supply chain within the county."
If Balfour is approved as the successful bidder, approximately 200 Suffolk County Council and Ipswich Borough Council staff will be transferred, under TUPE [Transfer of Undertakings (Protection of Employment)] rules. The new arrangement will come into effect on April 1st 2013.
The share price dipped 0.57% to 261.50p by 09:10.
NR
-
Nvidia's earnings live: China trade the key question for semiconductor giant’s resultsNvidia's shares have opened strongly ahead of its earnings, as analysts question whether Blackwell sales can make up for lost China revenue following Trump’s trade crackdown
-
8 of the best lakeside properties for saleThe best lakeside properties – from a house on the southeastern shore of Loch Lomond, to a 15th-century hall overlooking a lake in King’s Lynn, Norfolk
