News Release
24 March 2016
BALFOUR BEATTY AWARDED £170 MILLION TWO-YEAR EXTENSION FOR ITS LONDON UNDERGROUND TRACK PARTNERSHIP
Balfour Beatty, the international infrastructure group, has been awarded a £170 million two-year extension to its Track Partnership contract for London Underground.
Track Partnership, an alliance between Balfour Beatty Rail and London Underground, is responsible for delivering essential track renewal work across the London Underground network.
Balfour Beatty Rail was appointed to the initial contract in 2010, which included an option to extend for a further two years. The Company will continue to provide design, labour, plant, and materials, as well as surveying, supervision and management of the works. The scope of works includes points & crossings and ballasted track renewal installation together with associated drainage, signalling, traction power and conductor rail works.
The partnership extension reflects Balfour Beatty's continuous focus on innovative solutions that deliver sustainable, safer rail infrastructure at reduced lifecycle costs. Throughout the two-year extension, which takes the contract to March 2018, there will be a focus on enhancing efficiencies including measures which will see Project Managers given more accountability for driving down costs whilst continuing to safely deliver the highest standard of work.
Leo Quinn, Balfour Beatty Group Chief Executive, said: "With world-class expertise in track, electrification and power supply systems, Balfour Beatty Rail is a significant player in the UK rail infrastructure market. We have utilised these market-leading skills and expertise working with London Underground over the last 13 years. This extension is a clear sign of London Underground's confidence in the capability of Balfour Beatty within the Track Partnership".
ENDS
Analyst/investor enquiries:
Peter Young
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Notes to editors:
· Balfour Beatty Rail is one of the UK's leading rail infrastructure suppliers. From feasibility studies, planning and design through to implementation and asset management, we provide multi-disciplinary rail infrastructure services across the lifecycle of rail assets. Our expertise covers electrification, track, power, civils, specialist rail plant, railway systems and technologies.
· Balfour Beatty is a leading international infrastructure group. With 34,000 employees, we provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. We finance, develop, build and maintain complex infrastructure such as transportation, power and utility systems, social and commercial buildings.
Our main geographies are the UK, US, Middle East and South East Asia. Over the last 100 years we have created iconic buildings and infrastructure all over the world including the London Olympics' Aquatic Centre, Hong Kong's first Zero Carbon building, the world's biggest shopping mall in Dubai, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.
