March 14, 2019 / 8:03 AM / 6 days ago

Balfour Beatty preferred bidder for Network Rail's 1.5 billion pound contract

FILE PHOTO: Raindrops are seen on a sign at a Balfour Beatty construction site in central London September 29, 2014. REUTERS/Stefan Wermuth/File Photo

(Reuters) - British construction group Balfour Beatty said an alliance led by the company was selected as the preferred bidder for railway infrastructure operator Network Rail’s 1.5 billion pound ($1.99 billion) contract to build track renewals and crossings.

The FTSE 250-listed company said it had an 80 percent share in the ten-year alliance, which will be responsible for the development, design and delivery of the project. Atkins and TSO are the other two partners, with each owning a 10 percent share.

The work relating to the contract will start later this year, Balfour Beatty said.

The company this week reported a strong order book as it received more contracts following the high-profile collapse of peer Carillion last year.

Reporting by Muvija M in Bengaluru

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