Balfour Beatty wins gold with £50m Olympics contract

published 9 January 2012

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.

Under the terms of the contract, Balfour will be responsible for a range of services including estates and facilities management. The firm will also take charge of the ArcelorMittal Orbit, the new visitor attraction forming a centrepiece of what is earmarked as a great new park for London.

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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.