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Balfour Beatty appointed to two new civil engineering frameworks with combined total revenue value of up to £2.1bn

Published: 09:11 17 Oct 2018 BST

Balfour contractor
It pointed out that the frameworks will run for four years from October 2018, with schemes due to be awarded from early 2019

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.

READ: Balfour Beatty bouncing back but under pressure to grow margins further

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.

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