Balfour Beatty scoops £535m rail contract
Balfour Beatty, the FTSE-250 global infrastructure group, has been awarded a £535m (AUS $835m) contract for works on a section of the Regional Rail Link project in Melbourne.
Balfour Beatty, the FTSE-250 global infrastructure group, has been awarded a £535m (AUS $835m) contract for works on a section of the Regional Rail Link project in Melbourne.
Under the contract, in which Balfour has a 35% share, the alliance partners, which also include Thiess and Sinclair Knight Merz, will design and construct the first major new rail line for metropolitan Melbourne in 80 years.
Balfour will put in place the rail systems including signalling and track and will act as the programme manager for the project. Major works are expected to begin in early 2012.
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: "The Melbourne rail contract win is really pleasing from a number of perspectives. Firstly, as a global player in rail technology, we are pleased to play a part in this historical development for rail in Australia - a buoyant market where we are developing a healthy market position.
"Furthermore, it is rewarding to see our strategy in action. We have harnessed our skills and capabilities in rail as well as in Parsons Brinckerhoff to gain a position as a joint-venture partner in the design and construction of a complex rail project. This win aptly demonstrates the success of our strategy to integrate the group's capabilities to manage complexity for our customers."
NR
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
-
Tesla and Alphabet announce results – should you invest in Big Tech?
How profitable are the world’s biggest tech companies? We share the latest so far this earnings season.
By Katie Williams Published
-
How working part-time in retirement could boost your pension by £87,000
Easing into retirement by working a few days a week could add thousands to your pension pot. We crunch the figures to see how working part-time can boost your pension po
By Ruth Emery Published