Babcock International's Babcock Dounreay partnership has become the Parent Body Organisation of Dounreay Site Restoration Limited, and with it has grabbed the contract to manage the decommissioning, demolition and clean-up of the Dounreay nuclear site.
The Babcock Dounreay partnership, a joint venture between Babcock, CH2M HILL and URS, has been awarded the £1.6bn contract by the Nuclear Decommissioning Authority, and will be responsible for taking the decommissioning programme at Dounreay to its interim end state. The partnership and has set out an accelerated programme to achieve this between 2022 and 2025 (up to 16 years earlier than the 2038 date estimated two years ago) and reducing project costs by well in excess of £1bn.
Babcock has a 50% stake in the Babcock Dounreay joint venture.
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 share price rose 2.95% to 820.00p by 15:10p.
NR
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
