News Releases
Balfour Beatty Welcomes Share Purchase Agreements On London Underground PPP
09 May 2002Balfour Beatty, the international engineering, construction and services group, is pleased to note yesterday’s announcement that Share Purchase Agreements have been signed in relation to the bids for the Public Private Partnership (PPP) London Underground concessions.
Mike Welton, Chief Executive of Balfour Beatty plc, said: “While there are still some important hurdles to overcome before Financial Close when we will start work planned to provide London with a modern, reliable and safe system, today marks a major milestone towards achieving this.”
Balfour Beatty is part of the Metronet consortium which has won the PPP concessions for both the Bakerloo, Central and Victoria Lines (BCV) and the Sub-Surface Lines (SSL), which together constitute some 75% of the total network in track miles. The Metronet consortium comprises Balfour Beatty, Thames Water, WS Atkins, Bombardier and Seeboard.
ENDS
Enquiries to:
Tim Sharp
Tel: +44 (0)20 7216 6884
