Balfour Beatty awarded contracts worth up to £248 million by Network Rail

Balfour Beatty, the international infrastructure group, announces today that it has been awarded contracts by Network Rail totalling up to £248 million:

• a four-year extension to 2014 to Balfour Beatty’s existing track renewal framework contract worth approximately £56 million in the first year of the contract, with a further £115 million to be awarded provided agreed targets are met during the first year of the contract. The contract involves the delivery of plain line rail and switches and crossings at junctions with associated signalling, electrification and drainage work for the whole of Network Rail’s South East territory covering the Wessex, Sussex, Kent and Anglia regions;

• a four-year contract worth in excess of £50 million for the grinding of plain line rail across the UK, including the operation and maintenance of six of Network Rail’s fleet of rail grinders;

• the £27 million Paisley corridor improvement project in Glasgow for the construction of a new third running line and associated overhead electrification additions and modifications, as well as the remodelling of a number of approach lines. The Paisley corridor runs from Gower Street Junction to Arkleston Junction. This contract is due for completion in 2012.

Commenting today Balfour Beatty Chief Executive, Ian Tyler, said:

“We are delighted to have been awarded these contracts by Network Rail for whom we have worked since its formation in 2002 on a number of high-profile projects. These further contract awards demonstrate the strength of our partnership and we look forward to delivering a first-class service to Network Rail.”