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Balfour Beatty handed over £4bn public contracts for UK motorway construction and civil engineering projects
- It said the first contracts are expected to be awarded early next year
- England, Wales and Northern Ireland contract worth £3.25bn
- Scotland-wide contract worth £750m
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Balfour Beatty has once again been chosen as the sole contractor for two UK civil engineering contracts worth a total of £4 billion.
The infrastructure company will work with local authorities and government agencies in the UK to build local highways and deliver other projects across multiple sectors, including shipping and defence.
The HS2 and Hinkley Point C contractor said the deals cover the next four years, the first of which is expected to be awarded in early 2021.
Balfour Beatty already received public civil engineering contracts from Scape . in 2015
One of the contracts covers England, Wales and Northern Ireland and is worth £3.25 billion, the other is for all of Scotland and is worth £750 million.
Both frameworks – which allow local authorities and other public entities to execute contracts through a tender process that provides a fast track to market – cover a period of four years, with an option for a two-year extension. Company.
“By leveraging early contractor involvement, Balfour Beatty will ensure best-in-class design solutions are in place, drive efficiencies and help transform local communities and support both regional and national economic growth.”
Public sector contracting authority Scape had appointed the FTSE 250-listed company to deliver civil engineering projects worth more than £3bn as early as 2015.
Balfour Beatty said it has since delivered or delivered more than 285 projects for 96 public sector clients in the UK.
Mark Robinson, chief executive at Scape, said: “The strength of our partnership with Balfour Beatty has accelerated the delivery of much-needed civil engineering infrastructure through our direct award framework and I have no doubt that this will be achieved through the civil engineering framework for the next four years.’
Balfour Beatty chief executive, Leo Quinn, said: “With a long history of successful delivery through the SCAPE Group cadres, we now look forward to continuing on this positive trajectory; working with our clients on innovative, sustainable projects across the length and breadth of the UK.”
Balfour Beatty Shares rose 1 percent to 325p in morning trading Tuesday. They are about 18 percent higher than a year ago.
Last month, the group posted a massive increase in its first-half earnings and increased its interim dividend.