Balfour Beatty has secured a huge highway infrastructure contract in the US, valued at £575 million ($746 million) and spanning approximately eight years.
The infrastructure group’s US arm has been appointed by the Texas Department of Transportation (TDT) to rebuild part of Interstate 35 (I-35) through Austin, Texas.
Balfour will reconstruct a 4km section of the highway on the south-side of downtown Austin, which will provide eight lanes, a major new intersection, and multiple upgraded access roads.
A new bridge will also be built across the 416-acre Lady Bird Lake, on the Colorado River, replacing the existing bridge, built in 1956.
Due to the lake, the bridge will be constructed from a barge, using complex engineering and marine techniques.
The project also includes a bridge and intersection at Riverside Drive, in Austin, to support a future light rail line.
FUN FACT: Did you know, US state highways that run north and south are typically odd-numbered, while highways that run east and west are typically even-numbered?
The work forms part of the TDT’s I-35 Capital Express Central project to improve connectivity and enhance capacity for up to 200,000 daily drivers.
Main construction will start in the first half of 2025, with completion expected in 2033.
At peak construction, Balfour Beatty will directly employ more than 150 people.
“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,” said Balfour Beatty CEO, Leo Quinn.
“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.”
Balfour delivers strong half year
In August, Balfour Beatty reported revenue for the six months to June rose three per cent, to £4.7 billion (2023: £4.5 billion), driven by increases within its Support Services division as well as its joint venture, Gammon.
Its balance sheet remained strong, with average net cash of £735 million (FY2023: £700 million).
The group generated a pre-tax profit of £112 million, up 32 per cent from £82 million in the prior period.
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