Re Contract
Balfour Beatty PLC
03 November 2005
3 November 2005
BALFOUR BEATTY WINS NEW RAIL CONTRACTS
WORTH OVER £100 MILLION
=======================
Balfour Beatty, the international engineering, construction and services
business, announces today that it has won three new rail contracts with a total
value of approximately £100 million. The largest contract has been awarded by
the Australian Rail Track Corporation Limited for the upgrade of the existing
rail link between Sydney and Brisbane to increase capacity, reduce transit times
and improve reliability.
In Singapore, the Group has been selected to design and construct 7,600 metres
of trackwork for the latest extension of the mass rapid transit system. In the
UK, the company has been awarded a three-year framework contract for the
provision of road rail plant to Network Rail on the Wessex, Great Eastern and
West Anglian & North London Lines.
Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:
'These new contracts further demonstrate Balfour Beatty's strong international
position and reputation in fixed rail infrastructure markets following the
recent award of a major new project for the electrification of the West Coast
Main Line in the UK.'
In Australia, the Sydney to Brisbane project covers 700 kilometres of railway,
includes new loop extensions, track improvements, bridge strengthening and level
crossing upgrades. It forms part of the major works programme to improve the
interstate rail network concentrating on the Australian eastern seaboard. It
will be carried out in joint venture and is due for completion in 2008.
In Singapore, the work involves the installation of running rails, ground rails
and a third rail DC power system on precast concrete sleepers. It is scheduled
for completion in 2009.
The road rail plant contract for Network Rail was secured in a competition where
quality and safety were the key requirements. There is an option for a two-year
extension.
ENDS
Enquiries to:
Tim Sharp
Tel: 020 7216 6884
www.balfourbeatty.com
Notes to Editors
----------------
1. Balfour Beatty is the world's leading fixed rail infrastructure contractor
with annual sales of over £750 million and a forward order book well in
excess of £1 billion. It has substantial market positions in a number of
national rail markets including the UK, Germany, Italy, Spain, Portugal,
Austria, Sweden, Hong Kong and Singapore.
2. Balfour Beatty Group, through an integrated joint venture of its
subsidiaries, Balfour Beatty Rail and Balfour Kilpatrick, is currently
working on the £95 million contract to extend both the Heathrow Express and
the LUL Piccadilly Line from the existing Central Terminal Area to Terminal
5 at London's Heathrow Airport.
3. Balfour Beatty Rail is one of Network Rail's leading suppliers of track
renewals services following the award of new five-year renewals contracts in
April 2004. Balfour Beatty Rail is also responsible, through Metronet, for
the track renewals programme for London Underground on the Bakerloo,
Central, Victoria and Sub-Surface Lines in a programme likely to be worth
approximately £500 million in the first seven-and-a-half year concession
contract period.
4. Four weeks ago, Balfour Beatty was awarded the £110 million contract to
substantially complete the overhead electrification component of the UK's
West Coast Main Line modernisation programme.
5. Balfour Beatty is a world-class engineering, construction and services
group, well positioned in infrastructure markets which offer significant
growth potential. Its partnerships with public and private customers
generate secure, sustainable income. Its financial position, with
significant net cash and with strong operating cash flows, offers
continuing flexibility to add additional capacity and expertise to the
business mix and to make appropriate investments in PPP and other long-term
growth opportunities.
This information is provided by RNS
The company news service from the London Stock Exchange
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