Sep 18 2010
Balfour Beatty, the international infrastructure group, announces today that it has been appointed as preferred bidder by the National Roads Authority for the £250 million N17/N18 Gort to Tuam PPP roads scheme in the Republic of Ireland, in consortium with the Royal BAM Group.
The N17/N18 contract is a 25-year concession during which time the consortium, in which Balfour Beatty has a 50% share, will design, build, finance and maintain approximately 57km of motorway between Gort and Tuam in the West of the Republic as part of the Atlantic road corridor. The scheme includes 38 bridges and a major intersection with the new M6 Dublin to Galway inter-urban motorway.
Once financial close is reached, work on the project is expected to begin in early 2011 with completion of the construction contract scheduled for the end of 2014.
Commenting today, Balfour Beatty Chief Executive, Ian Tyler, said:
“We are delighted to be named as preferred bidder for the delivery of this major infrastructure scheme in Ireland, which will significantly improve safety and reduce journey times. We look forward to working with our consortium partner, BAM, to deliver a first- class roads scheme, which will be our first in the Republic of Ireland.”
Balfour Beatty will invest equity of £17 million in the project.
Source: http://www.balfourbeatty.com/