Balfour Beatty, the international infrastructure group, has won a 10-year deal to run services and facilities for the future Queen Elizabeth Olympic Park in East London.
The contract value is £50m over the next ten years, although further scope extensions under discussion between Balfour Beatty WorkPlace and the Olympic Park Legacy company may see the long-term value of the wider Olympic Park work grow significantly beyond the initial operational phase, the firm said.
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
In a statement the firm said: "We are delighted to further extend our involvement with the London Olympics, which includes construction and delivery of the Aquatics Centre and now encompasses this prestigious role in ensuring London 2012 secures a magnificent, enduring legacy.
"More than 200 new jobs are to be created through the deal with most of these filled by people from the local community, where Balfour Beatty's training and support schemes will secure new long-term career opportunities in East London."
Despite the win the firm's share price fell 0.04% to 273.5p by 09:02.
NR
-
HMRC savings tax crackdown: More workers to pay tax directly from their wagesBanks and building societies will be required to obtain National Insurance numbers from savers to make it easier for HMRC to tax those who breach their personal savings allowance
-
It’s time to start backing the UK stock marketThe UK stock market has been languishing for decades. But the tide is turning and smart investors should buy in now
