Babcock and Costain venture wins £900m Network Rail deal
BRITISH engineering firms Babcock and Costain yesterday confirmed that their joint venture, which also comprises France’s Alstom, has been hired by Network Rail as one of the four suppliers to spark off its £2bn national electrification programme.
The joint venture, called ABC Electrification, will rake in £900m from the seven-year contract, which is extendable by a further three years.
Network Rail is electrifying over two thousand miles of the UK’s rail system on key routes, which it says will improve services and help support economic growth across the country.
ABC has been awarded two out of the six geographical areas within the programme, the north west of London and the Wales and west region.
“We are delighted to have been selected as one of the framework suppliers working with Network Rail to deliver this major programme of electrification and vital investment in the country’s rail network,” said Peter Rogers, chief executive of Babcock.
“Developing long-term strategic partnerships is key to our business model and we look forward to continuing to build on our strong relationship with Network Rail.”
Andrew Wyllie, chief executive of Costain, said: “This repeat order is a consequence of our ‘engineering tomorrow’ strategy, whereby we form long-term, strategic partnerships with our customers to deliver a broad range of services across the full life cycle of their assets.”