News Releases
Metronet Appointed Preferred Bidder By London Underground For BCV Infraco Contract
02 May 2001Balfour Beatty, the international engineering, construction and services group, announces today that Metronet, the consortium in which it has a 20% shareholding, has been appointed as preferred bidder for the Bakerloo, Central and Victoria lines Infraco by London Underground under a Public Private Partnership contract.
Metronet is made up of equal partners, Balfour Beatty plc, WS Atkins plc, Adtranz Ltd, SEEBOARD plc and Thames Water Plc.
Under the PPP, each Infraco will enter into an Infraco Service Contract with London Underground for the provision of Infrastructure Services. The Infracos’ primary responsibility will be the maintenance and, where appropriate, enhancement and renewal of the infrastructure that London Underground uses to deliver its passenger services, including rolling stock, track, signalling, stations and other civil structures such as tunnels and bridges.
The financial close of the contract is expected in early autumn.
Speaking today, Balfour Beatty Chief Executive, Mike Welton, said, “I am pleased that the Metronet consortium has been given this opportunity to be a part of the much needed improvement in the infrastructure of the London Underground. We look forward to helping London Underground to create a world-class, safe and reliable system.”
Balfour Beatty has a portfolio of 11 privately financed infrastructure projects, including three hospitals, three road schemes, a schools concession, a water project and three power schemes. It is a shareholder in the concession company which is already running and modernising the power system for the whole of the London Underground network.
ENDS
Enquiries to:
Tim Sharp
Tel: 020 7216 6884
