News Release
17 July 2013
BALFOUR BEATTY AWARDED CONTRACT EXTENSION WITH YORKSHIRE WATER
Balfour Beatty, the international infrastructure group, announces today that it has been awarded a five-year extension to its water networks contract with Yorkshire Water, anticipated to be worth around £70 million.
The contract extends our work with Yorkshire Water into the AMP6 regulatory period, which runs from 2015 to 2020, continuing our partnership with Yorkshire Water through every AMP cycle since 1994.
Balfour Beatty will continue to upgrade the clean water network in South and West Yorkshire, ensuring a reliable supply of water across the region. This includes replacing mains that have come to the end of their life and using innovative, undisruptive ways to clean or rehabilitate others, such as relining old mains and using highly pressurised air blasts to clear blockages.
Balfour Beatty Chief Executive, Andrew McNaughton said: "We are delighted that our long relationship with Yorkshire Water will continue into the next AMP cycle. This is an important time for our clients in the water sector as they face more challenging regulatory requirements, and we are committed to supporting their objectives through continued investment in new technology and the delivery of exceptional service."
ENDS
Analyst/investor enquiries:
Basak Kotler
Balfour Beatty plc
Tel. +44 (0)20 7216 6924
[email protected]
Media enquiries:
Rebecca Salt
Balfour Beatty plc
Tel. +44 (0)20 7216 6865
[email protected]
Notes to editors:
The water industry operates on five-yearly cycles called Asset Management Plan (AMP) periods. Prices are set by Ofwat at the beginning of each period, following submissions from each water company about what it will cost to deliver their business and investment plans.
This is the third contract win in the water sector for Balfour Beatty in recent months. In May, the company's joint venture with MWH and Skanska was announced as one of Thames Water's deliver partners for AMP6. Last week the company entered the Australian water renewals market with a place on Sydney Water's deliver framework.
About Balfour Beatty
Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance.
Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK, the US, Southeast Asia and the Middle East. We continue to develop our business in key growth markets in South Africa, Australia, Canada, Brazil and India.
With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors include transportation (roads, rail and aviation), power and energy, mining, water and social infrastructure such as hospitals and schools.
Balfour Beatty employs 50,000 people around the world.
