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Balfour Beatty has scored a new contract to work on a rail network in Melbourne, Australia.
As part of the £76.6m agreement with Victoria's Road Authority, the infrastructure group will remove a pivotal rail road level crossing in Melbourne.
Balfour Beatty will lower the existing rail line beneath the road in order to reduce congestion, improve safety and cut journey times.
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A new station with transport interchange and associated precinct areas will also be constructed.
"This is an excellent demonstration of the infrastructure expertise Balfour Beatty as a whole can bring to a complex project, utilising skills gathered from across our global business," said Chief Executive Andrew McNaughton.
Work begins this month and will be completed by the end of 2014.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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