UK construction services company seals £260m deal

Posted on 7 Nov 2017 by Jonny Williamson

British multinational facilities management and construction services company has announced two award contracts both in respect of Network Rail’s Midland Mainline improvement program.

The programme aims to upgrade the existing track and infrastructure on the route from London to Corby – image courtesy of Carillion

Headquartered in Wolverhampton, Carillion Powerlines, a 50:50 Joint Venture with Powerlines Group, has signed a contract with Network Rail in respect of the Midland Mainline Electrification programme.

The programme aims to upgrade the existing track and infrastructure on the route from London to Corby, and the contract is expected to generate revenues for the Group of £62m over the next two and a half years.

Under the contract, Carillion Powerlines will undertake work to complete the electrification of the route from London to Corby.

The contract is expected to generate revenue for the Joint Venture of £260m over the next three years and work will commence shortly.

Carillion’s Interim Chief Executive, Keith Cochrane, said about the contract: “We are pleased to have agreed these awards with Network Rail, demonstrating that we continue to have the support of key customers and win important new contracts.

The Group faces significant challenges, but we remain focused on executing our disposals programme, taking cost out and strengthening our balance sheet.”

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