Balfour Beatty, the international infrastructure group, announces today that it has been appointed as preferred bidder by the National Roads Authority for the £250 million N17/N18 Gort to Tuam PPP roads scheme in the Republic of Ireland, in consortium with the Royal BAM Group.
The N17/N18 contract is a 25-year concession during which time the consortium, in which Balfour Beatty has a 50% share, will design, build, finance and maintain approximately 57km of motorway between Gort and Tuam in the West of the Republic as part of the Atlantic road corridor. The scheme includes 38 bridges and a major intersection with the new M6 Dublin to Galway inter-urban motorway.
Once financial close is reached, work on the project is expected to begin in early 2011 with completion of the construction contract scheduled for the end of 2014.
Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:
“We are delighted to be named as preferred bidder for the delivery of this major infrastructure scheme in Ireland, which will significantly improve safety and reduce journey times. We look forward to working with our consortium partner, BAM, to deliver a first- class roads scheme, which will be our first in the Republic of Ireland.”
Balfour Beatty will invest equity of £17 million in the project.
ENDS
Analyst/investor enquiries:
Basak Kotler
Balfour Beatty plc
Tel: 020 7216 6924
Media enquiries:
Duncan Murray
Balfour Beatty
Tel: 020 7216 6865
Notes to Editors:
- Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group operating in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world. - Balfour Beatty has a substantial infrastructure investments portfolio. This portfolio consists of:
- North West Fire and Rescue, fire stations upgrade (preferred bidder)
- Nine major hospitals
- Ten major schools schemes in the UK, and a technical education centre in Singapore
- Six roads schemes and four street lighting projects (including Coventry street lighting at preferred bidder)
- The London Underground power system
- A coastal defence pathfinder PPP
- Barking Power Station (non-PPP)
- Exeter International Airport (non-PPP)
- Blackpool International Airport (non-PPP)
- 17 US military housing projects for the Army, Navy and Air Force, on or near bases located in 20 states and Washington, DC
- Florida Atlantic University student accommodation
