Balfour Beatty receives Notice to proceed for phase one of Eagle P3 commuter rail project contract in Denver, United States
16 August 2010
Balfour Beatty's share for phase one valued at £560 million
Balfour Beatty, the international infrastructure group, announces today that the Denver Transit Partners (DTP) team has reached financial close for the design, build, finance and operation (DBFO) of the Eagle P3 commuter rail project in the Denver metropolitan area of the United States for the Denver Regional Transport District (RTD).
Balfour Beatty will be responsible for a 50% or $500 million (£333 million) share of the $1 billion engineering, procurement and construction contract and a 33% or $340 million (£227 million) share of the $1 billion 29-year operations and maintenance contract.
Notice to proceed was received concurrently with financial close of the DBFO project. The groundbreaking ceremony for phase one of the project is scheduled for 26 August 2010. Phase 2 is expected to be let in 2011.
As well as Balfour Beatty Rail and Parsons Brinckerhoff, Balfour Beatty’s professional services arm, the DTP team, led by Fluor, John Laing plc, and Uberior Investments, includes transit industry experts Ames Construction, Hyundai-Rotem USA (Hyundai), Alternative Concepts, Inc. (ACI), Fluor/HDR Global Design Consultants, PBS&J, Interfleet Technology, Systra and Wabtec.
The multi-billion Eagle project includes:
- East Corridor: a new 22.8 mile commuter rail line from Union Station to Denver International Airport;
- Gold Line: a new 11.2 mile commuter rail line from Union Station to Wheat Ridge;
- A two mile initial segment of the Northwest Rail Corridor; and
- A new commuter rail maintenance facility.
Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:
“We are delighted to be a key part of the DTP team for this transformational project for the citizens of Denver. This project demonstrates the capabilities the Balfour Beatty Group can deliver for major infrastructure owners. We look forward to continuing our successful relationship with our partners and the community to deliver this prestigious project.”
The Eagle Project is part of RTD’s FasTracks Plan, a 12-year multi-billion dollar transit expansion programme to build and operate new commuter and light rail services and expand transportation offerings throughout the eight-county Denver area.
Balfour Beatty plc
Tel. 020 7216 6883
Notes to Editors:
An exchange rate of $1.50:£ has been used to convert Dollar value into Sterling.
In the United States, Balfour Beatty provides construction and maintenance services for the public and private railroad markets. The company’s services include industry-leading design, engineering, construction and maintenance for Class 1 and regional/short line freight, industrial railroads, ports, and rail transit authorities. The National Railroad Construction and Maintenance Association (NRC) of the United States has awarded Balfour Beatty a Gold Award for safety excellence for the last three consecutive years.
Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group operating in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world