Balfour Beatty PLC BALFOUR BEATTY JV AWARDED $1.95 BN CONTRACT (1023F)
16 February 2018 - 6:00PM
UK Regulatory
TIDMBBY
RNS Number : 1023F
Balfour Beatty PLC
16 February 2018
News Release
16 February 2018
BALFOUR BEATTY JOINT VENTURE AWARDED $1.95 BILLION (c. GBP1.4
BILLION) CONTRACT BY
LOS ANGELES WORLD AIRPORTS FOR AUTOMATED PEOPLE MOVER
Balfour Beatty, the international infrastructure group, has been
awarded, in joint venture, a $1.95 billion (c. GBP1.4 billion)
design, build, finance, operate and maintain contract for the
'Automated People Mover' at Los Angeles International Airport (LAX)
by Los Angeles World Airports (LAWA).
The design and build element of the contract has been awarded to
the LAX Integrated Express Solutions (LINXS) joint venture
comprising of Balfour Beatty (30 percent), Fluor Corporation (30
percent), Flatiron West (20 percent) and Dragados USA (20
percent).
The design and build works will include a 2.25-mile, above
ground airport transport system connecting the LAX central terminal
area to the to-be-constructed consolidated rental car facility as
well as six stations and a vehicle maintenance facility. Once
completed, travellers will enjoy a transportation system that
operates up to nine trains simultaneously and moving walkways to
the terminals and parking garages.
LINXS equity members include Balfour Beatty Investments (27
percent), Fluor Enterprises (27 percent), Hochtief PPP Solutions
GmbH (18 percent), ACS Infrastructure Development (18 percent) and
Bombardier Transportation (Holdings) USA (10 percent). This project
represents Balfour Beatty Investments' first major public-private
partnership (P3) in the US civil infrastructure market.
Leo Quinn, Balfour Beatty Group Chief Executive, said: "This
award at LAX, one of the world's busiest airports, recognises our
expertise and track record for delivering critical transportation
infrastructure."
ENDS
Analyst/investor enquiries:
Angus Barry
Tel. +44 (0)20 7216 6824
angus.barry@balfourbeatty.com
Media enquiries:
Louise McCulloch
Tel. +44 (0)20 7216 6846
louise.mcculloch@balfourbeatty.com
Notes to editors:
-- Balfour Beatty (www.balfourbeatty.com) is a leading
international infrastructure group. With 30,000 employees, we
provide innovative and efficient infrastructure that underpins our
daily lives, supports communities and enables economic growth. 4We
finance, develop, build and maintain complex infrastructure such as
transportation, power and utility systems, social and commercial
buildings.
-- Our main geographies are the UK, US and the Far East. Over
the last 100 years we have created iconic buildings and
infrastructure all over the world including the London Olympics'
Aquatic Centre, Hong Kong's first Zero Carbon building, the
National Museum of the Marine Corps in the US and the Channel
Tunnel Rail Link.
-- Balfour Beatty's US business is an industry-leading provider
of general contracting, at-risk construction management and
design-build services for public and private sector clients across
the nation. Performing heavy civil and vertical construction, the
company is consistently ranked among the nation's largest building
contractors, and is the No. 6 Domestic Building Contractor as
ranked by Engineering News-Record. To learn more, visit
www.balfourbeattyus.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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