Balfour Beatty wins £750m electricity upgrade contract

Builder Balfour Beatty today won a five-year contract worth up to £750 million to upgrade Britain’s electricity transmission network.

It’s an extension of an existing deal for the infrastructure group, after it formed the Electricity Alliance East joint venture with National Grid five years ago. The work involves maintaining and refurbishing overhead trans-mission lines, as well as designing and implementing National Grid’s network upgrade plans.

Balfour’s chief executive, Ian Tyler, said: “National Grid is one of our longest-held relationships and we are delighted at their decision to extend the partnership.”

This week Balfour was named preferred bidder for an £800 million contract to run a rubbish and recycling project in Essex. It will invest £7 million for a 30% stake in the 28-year contract with Urbaser, part of Spanish construction giant ACS, putting in the rest.