Balfour Beatty plc (LON:BBY) shares rose on Tuesday following news it has secured contracts with a combined total value of up to £2.1bn in revenue after being appointed as sole contractor to Scape Group's two new civil engineering frameworks.
The Scape national civil engineering framework, valued at £1.6bn, covers England, Wales and Northern Ireland, while another in Scotland is worth £500mln.
The FTSE 250-listed firm said the frameworks allow local authorities, local enterprise partnerships and other public sector bodies to commission works "through a procurement process that provides the fastest route to market and utilises early contractor engagement to deliver best value design solutions".
It pointed out that the frameworks - open to all public sector bodies in the UK - will run for four years from October 2018, with schemes due to be awarded from early 2019.
Balfour Beatty’s chief executive, Leo Quinn said: "These frameworks enable us to build on our strong partnership with Scape. Our engineering and project management expertise coupled with our detailed regional knowledge supports Scape's delivery of a wide range of rapidly mobilised infrastructure projects."
In early morning trading, Balfour Beatty shares were 2.9% higher at 262.20p.