Balfour Beatty selected as preferred bidder on important contract

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.

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.

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

Recommended

Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

The MoneyWeek portfolio of investment trusts – March 2023 update
Investment trust model portfolio

The MoneyWeek portfolio of investment trusts – March 2023 update

A decade ago we set up the MoneyWeek portfolio of investment trusts. It proved a success, says Andrew Van Sickle.
27 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023
11 investment trusts for inflationary times
Investments

11 investment trusts for inflationary times

Inflation eats away at the value of your money, but these investment trusts can help you grow your wealth.
28 Mar 2023