News Releases
Balfour Beatty Joint Venture Appointed Preferred Bidder for £100 Million Sunderland Street Lighting Contract
04 Nov 2002Balfour Beatty, the international engineering, construction and services group, announces today that SBB, a joint venture between Balfour Beatty Capital Projects and Seeboard has been appointed as preferred bidder for the Street Lighting & Highway Signs, PFI maintenance contract, by The City of Sunderland Council. The contract is valued at approximately £100 million.
The concession period will be for 25 years from financial close, which is currently predicted for January 2003.
Balfour Beatty Chief Executive Mike Welton, commenting on the award today, said: “We are delighted to have been selected as preferred bidder for this project and look forward to working with The City of Sunderland Council in providing this essential construction and maintenance service.”
Balfour Beatty is already a major player in term maintenance through its work on roads for the Highways Agency and local authorities, on rail for Network Rail and on long-term PFI and private sector projects.
The work in Sunderland will be carried out by Balfour Beatty’s power line and cabling subsidiary Balfour Beatty Power Networks and Seeboard. Balfour Beatty Power Networks was recently strengthened by the acquisition of Walgrave, the UK distribution cable service provider.
The scope of work involves the maintenance of 45,000 streetlights and 13,500 highway signs and other fixed equipment. The core investment programme will be implemented in the first five years, during which time some 35,000 streetlights will be replaced.
ENDS
Enquiries to:
Tim Sharp
Tel: +44 (0)20 7216 6884
