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12 Feb 2014 10:00
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12 February 2014
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Babcock International Group PLC (Babcock)
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Babcock, in joint venture, appointed to Network Rail's Β£2bn National Electrification Programme
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Further to Network Rail's announcement on 4 February 2014 and as included in Babcock's Interim Management Statement of 11 February 2014, Babcock the UK's leading engineering support services organisation, is pleased to confirm that its joint venture (jv), ABC Electrification Ltd (ABC), has been appointed by Network Rail as one of four suppliers to deliver a Β£2 billion programme to electrify more than two thousand miles of Britain's railway over the next seven years.
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ABC, an incorporated, equal share, jv comprising Alstom, Babcock and Costain, has been awarded two out of the six geographical areas within the programme, the Central (London North Western, South) region and the Wales and West region. The total contract for ABC is valued at Β£900 million over an initial seven year term, with an option to extend for a further three years.
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Peter Rogers, Chief Executive of Babcock commented:
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"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. 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."
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Enquiries | |
Babcock International Group PLC | 020 7355 5300 |
Terri Wright - Head of Investor Relations | |
FTI | 020 7269 7291 |
Richard Mountain |
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