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Balfour Beatty JV To Get £2.5 Bln Worth Contracts From High Speed 2

Infrastructure group Balfour Beatty PLC (BBY.L) announced Monday its notification of intent to be awarded two contracts by High Speed 2 or HS2, worth a combined total of about 2.5 billion pounds.

The two contracts have been awarded to Balfour Beatty's 50:50 joint venture with VINCI. Balfour Beatty VINCI will deliver Lot N1, valued at about 1.32 billion pounds, and Lot N2, valued at about 1.15 billion pounds, between the Long Itchington Wood Green tunnel to the Delta Junction / Birmingham Spur and from the Delta Junction to the West Coast Main Line tie-in respectively, in a two-part design and build contract.

According to the firm, the contract awards reflect the innovative and collaborative nature of the joint venture. Balfour Beatty's in-depth knowledge and expertise of British transport will join with VINCI's High Speed Tours-Bordeaux project in France.

Leo Quinn, Balfour Beatty Group Chief Executive, said, "This is a generational engineering project. HS2 will provide vital infrastructure not only to rebalance the economy, but also to fuel growth in skills, jobs and prosperity across the UK for the future. Balfour Beatty's joint venture with VINCI has world-class capability in this area and our selection as preferred bidder for two sections is a major endorsement of our strength."

The company noted that main construction work is scheduled to start in 2018/19, following a period of detailed design work.

by RTTNews Staff Writer

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