Balfour Beatty wins $625m US contract

FTSE 250 infrastructure group Balfour Beatty has been awarded a $625m (£484m) contract by the Texas Department of Transportation to reconstruct and improve the Southern Gateway, which is an 11 mile stretch of road in Dallas.

The contract has been awarded in joint venture to Pegasus Link Constructors, a JV between Balfour Beatty and Fluor Corporation in which Balfour has a 45% share.

The award is part of the Clear Lanes initiative, a programme that prioritises funding for congestion relief projects in Texas' metropolitan areas.

Chief executive Leo Quinn said: "We are pleased to have been selected by the Texas Department of Transportation for the 'Southern Gateway'. This award recognises our expertise and track record for delivering complex design-build transportation projects following our successful delivery of the adjacent Dallas Horseshoe Project. "

Construction is due to start late this year, with completion expected in 2021.

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