Balfour Beatty wins £200m US military housing contract

Source: Construction Digital

Date :24/07/2008 15:17:13

Balfour said today, July 24, that its US PPP concession arm, Balfour Beatty Communities, will build nearly 2,500 housing units for the US military.

The initial seven-year contract is worth US$410 million (£200 million), and will include the design, construction or renovation, and overall management of 2,435 housing units.

Construction will be undertaken by Balfour Beatty Construction US, which is executing all Balfour Beatty Communities’ construction work in a programme which stretches to 2015.

“Finalising agreement for this project is a further milestone in confirming Balfour Beatty’s leading position in the US PPP military accommodation market,” said Ian Tyler, Balfour Beatty’s chief executive.

“Balfour Beatty Communities, which we acquired earlier this year, has given us a secure long-term profit and cash flow from a portfolio of high quality concessions,” he continued.

“It has also brought an experienced and successful management team to develop our presence in the developing US PPP market and has also added a strong support service capability to the US business mix.”