Interserve PLC (LSE: IRV) has been named as one of four partners in the Highways Agency's managed works framework contract for the maintenance and repair of highways and structures in the east and south-east of England.
The maximum value of the framework, which is for two years with a possible two-year extension and is shared with four other contractors, is £400 million over the four years.
The programme covers a large geographical area encompassing the counties of Bedfordshire, Berkshire, Buckinghamshire, Cambridgeshire, Essex, Hertfordshire, Hampshire, Kent, Norfolk, Oxfordshire, Suffolk, Surrey and Sussex and includes the option to work on the M25.
The contract involves projects of up to £10 million and includes maintenance and improvement works, road resurfacing and bridge maintenance. The framework agreement is also open for use by local highway authorities and other public sector clients.