Balfour Beatty wins power deal

Click to follow
The Independent Online

The builder Balfour Beatty has won a five-year contract worth up to £750m to upgrade Britain's electricity network.

It is an extension of an existing deal for the infrastructure group, after it formed the Electricity Alliance East joint venture with National Grid five years ago. The work involves maintaining and refurbishing overhead transmission lines, as well as designing and implementing National Grid's network upgrade plans.

Balfour's chief executive, Ian Tyler, said: "National Grid is one of our longest-held relationships and we are delighted at their decision to extend the long-term partnership with Balfour Beatty. This further reinforces a strong, strategic alliance bringing continuing value as well as ongoing certainty to a core element of the UK's infrastructure."

This week Balfour was named the preferred bidder for an £800m contract to run a rubbish and recycling project in Essex, in partnership with Urbaser, part of Spain's ACS.

It will invest £7m for a 30 per cent stake in the 28-year contract with Urbaser putting in the rest.