Balfour Beatty secures £575m deal for major Interstate 35 reconstruction in Austin, Texas

The deal, valued at £575 million and awarded by the Texas Department of Transportation, will see a four-kilometre section of the route on the south side of downtown Austin reconstructed.

Balfour Beatty has secured a contract worth over half a billion to reconstruct a section of Interstate 35, a significant Interstate Highway in the central US, specifically in Texas.

The contract, valued at £575m and awarded by the Texas Department of Transportation, involves the reconstruction of a four-kilometre stretch of the route on the south side of downtown Austin, as reported by City AM.

The project includes eight new general-purpose lanes, a major new intersection, and several upgraded access roads.

Additionally, Balfour Beatty is responsible for constructing a new bridge over the 416-acre Lady Bird Lake on the Colorado River.

Chief executive Leo Quinn commented on the contract win, stating: “This latest contract award demonstrates our leading civil engineering capabilities and is testament to our 30-year history of delivering projects for the Texas Department of Transportation,”.

He added: “Our selective bidding approach ensures that we leverage our strengths to work with long-term customers in the geographies in which we have proven expertise, strong teams and trusted supply chain partners.”

At the height of construction, the FTSE 250 infrastructure group will employ 150 people. Work is set to commence in the first half of 2025 and is projected to be completed by 2033.

The project is part of the Texas Department of Transportation’s I-35 Capital Express Central scheme, aiming to significantly enhance connectivity and capacity for the 200,000 drivers who utilise the route daily.

Balfour has secured several contracts this year, including a significant £363m agreement with National Grid in the UK to bolster East Anglia’s electricity network as part of the nation’s green energy expansion.

The company’s shares have seen an impressive rise of nearly 30 per cent so far this year.

 

Source: https://www.business-live.co.uk/enterprise/balfour-beatty-secures-575m-deal-30301291

 

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Source: BusinessLive.co.uk