International infrastructure group Balfour Beatty plc today announced that its joint venture with Skanska and MWH Global, SMB, has secured a seven-year contract with Thames Water which will help to ensure the resilience of the water infrastructure in London and the South for future generations.
The contract is worth £1 billion to £1.5 billion to the joint venture, shared equally between the three partners. It will begin in May 2013 with the 23-month Early Contractor Involvement (ECI) phase, in preparation for the delivery of the sixth Asset Management Plan (AMP). Running from April 2015 to March 2020, AMP6 involves the design and construction of the water infrastructure network including replacing pipes, pumping stations and water treatment works.
SMB will be providing design-and-build solutions as part of Thames Water’s ‘super-alliance’ of industry-leading organisations in a move that reflects Thames Water’s decision to confirm its partners two years before the following five-year regulatory period, transforming the way it delivers capital investment.
Commenting on the announcement, Balfour Beatty Chief Executive, Andrew McNaughton, said: “We’re very pleased to be an integral part of Thames Water’s AMP6 cycle at a time when the company adopts a completely new approach to its capital investment.”
“The pipes and pumps that keep our water system working are crucial, and we are delighted to be bringing our skills and experience to this important programme in water, one of our key economic infrastructure sectors.”
Analyst/investor enquiries:
Basak Kotler
Balfour Beatty plc
Tel. + 44 (0)20 7216 6924
Media enquiries:
Maitland
Tel. +44 (0)20 7379 5151
BalfourBeatty-maitland@maitland.co.uk
Notes to editors:
1. Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance.
Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK, the US, Southeast Asia and the Middle East. We continue to develop our business in key growth markets in South Africa, Australia, Canada, Brazil and India.
With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors include transportation (roads, rail and aviation), power and energy, mining, water and social infrastructure such as hospitals and schools.
Balfour Beatty employs 50,000 people around the world.
