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Balfour Beatty awarded £111 million new design and build contracts by Grosvenor in Liverpool

Balfour Beatty, the international engineering, construction, services and investment group, announces today that it has been awarded design and build contracts worth £111 million by Grosvenor, the privately-owned international property group, for the Paradise Project in Liverpool. This multi-use development, adjacent to Paradise Street in the heart of the city centre, will form a significant proportion of Grosvenor’s 42-acre Liverpool redevelopment programme, which will be completed during the city’s European Capital of Culture Year in 2008.

The work will involve five Balfour Beatty companies, namely Balfour Beatty Construction, Mansell, Balfour Kilpatrick, Balfour Beatty Civil Engineering and Stent Foundations.

Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:

“This award demonstrates the all-round strength of the Group and the increasing appeal of integrated solutions to deliver the infrastructure which our major customers need.”

Balfour Beatty Construction will act as the main contractor for the eastern part of the Paradise Project. This part of the project consists of some 15 buildings including over 50 new retail units, 160 apartments and three commercial buildings, together with 550 car parking spaces and the comprehensive refurbishment of other buildings, including Liverpool’s oldest Grade 2 listed warehouse, for retail use.

ENDS

Enquiries to:

Tim Sharp
Tel: 020 7216 6884
www.balfourbeatty.com

Notes to Editors

1. Balfour Beatty’s 2006 revenues in the UK building, building management and services market amounted to almost £2 billion. Balfour Beatty Construction and Mansell are leaders in building construction. Balfour Kilpatrick and Haden Young also lead their markets for electrical and mechanical engineering. Haden Building Management is a fast-growing force in the facilities management market, having secured over £750 million of new orders during 2006.
2. Balfour Beatty is a world-class engineering, construction, services and investment business, well positioned in infrastructure markets which offer significant long-term growth. We work in partnership with sophisticated customers who value the highest levels of quality, safety and technical expertise. Our skills are applied in appropriate combinations to meet individual customer need. Its financial position, with significant net cash and with strong operating cash flows, offers continuing flexibility to add additional capacity and expertise to the business mix and to make appropriate investments in PPP and other long-term growth opportunities.