News Releases
Balfour Beatty Welcomes LUL Decision On PPP Plans
07 Feb 2002Balfour Beatty, the international engineering, construction and services group, welcomed today’s announcement by LUL that the bids for the public, private partnerships (PPP) concessions are acceptable and that a report by accountants Ernst and Young confirms that they represent value for money.
Mike Welton, Chief Executive at Balfour Beatty, said: “This announcement marks a critical step in the process to secure a much needed upgrade to the London tube network. Metronet will continue to work closely with London Underground with a view to achieving the fastest possible route to completion so that we can begin the vital work required to improve the system.”
Balfour Beatty is part of the Metronet consortium which has won the concessions for both the Bakerloo, Central and Victoria Lines (BCV) as well as the Sub-Surface Lines (SSL), which together constitute some 75% of the total network. The Metronet consortium comprises Balfour Beatty, Thames Water, WS Atkins, Bombardier and Seeboard.
ENDS
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