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Balfour Beatty plc

Balfour Beatty wins £110m contract from London Underground

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Balfour Beatty (LON:BBY) announced that Balfour Beatty Rail has won a five-year contract to carry out track renewal work in partnership with London Underground.

The work, which will include the replacement of ballasted track, points and crossings, will commence in spring 2011.

The total value of the work to be delivered by the partnership is £220 million, of which around half will be Balfour Beatty's share.

The contract is extendable for another two years following an initial five year period.

“We are very pleased to be part of such a crucial project, working in partnership with London Underground to deliver a world-class transport system for London,” said chief executive of Balfour Beatty Ian Tyler.

Balfour Beatty Rail provides rail infrastructure services in over 20 countries.

Quick facts: Balfour Beatty plc

Price: £2.35

Market: LSE
Market Cap: £1.61 billion
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