Atkins, the FTSE 250 engineering firm, has won the signalling and power and distribution contracts for the Cardiff Area Signalling Renewal project.
Network Rail has set Atkins a target of delivery by 2015, in return the company expects to receive revenues of £64m.
Atkins will design and implement the replacement of signalling and power equipment across 192 miles of track between Newport and Port Talbot, covering the Vale of Glamorgan and Valleys areas.
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
Professor Dr Uwe Krueger, Atkins' Chief Executive officer, said: "This is another important success for our UK business and is a further sign of Network Rail's confidence in our rail team."
Atkins shares have risen 7.7% so far this year.
-
Ofgem proposes new energy tariffs with low or no standing changesStanding charges have invited public backlash as households battle high energy bills
-
Google shares bounce on Gemini 2.0 launchGoogle has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
