Balfour Beatty gets £800m Thames Water contract
The initial £800 million contract covers the AMP 6 regulatory period, running from April 2015 to March 2020, paving the way for new jobs and economic boost in the trades.
Leo Quinn, Balfour Beatty Group Chief Executive, said: “Through our joint venture and by collaborating in the Alliance, we bring our deep expertise to bear on this major investment in water infrastructure.
“This contract will help to ensure the resilience of the vital water infrastructure in Greater London and the Thames Valley for future generations. Balfour Beatty is committed to support Thames Water in delivering on its commitments to its customers and the regulator.”
As a one third partner in the SMB joint venture, the value to Balfour Beatty is approximately £265 million over the initial five years. This follows on from a two year Early Contractor Involvement phase that started in March 2013.
The SMB joint venture is providing water asset solutions as part of Thames Water‘s ‘super-alliance’, known as eight2O.
AMP6 involves creating and maintaining the necessary water infrastructure across the Thames Water’s network, including pipes, pumping stations and water treatment works, in order to meet commitments to Thames Water’s customers and the water regulator, Ofwat.