Balfour Beatty wins £575m contract to rebuild major interstate highway in Texas
Balfour Beatty has won a contract valued at more than half a billion to rebuild part of Interstate 35, the major Interstate Highway running through central US, in Texas
The deal, valued at £575m and awarded by the Texas Department of Transportation, will see a four-kilometre section of the route on the south side of downtown Austin reconstructed, with eight new general purpose lanes, a major new intersection, and multiple upgraded access roads.
Balfour Beatty has also been tasked with building a new bridge over the 416-acre Lady Bird Lake on the Colorado River.
“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,” chief executive Leo Quinn said in a statement.
“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.”
The FTSE 250 infrastructure group will employ 150 people at the peak of construction, which will begin in the first half of 2025 and is expected to be completed in 2033.
The project forms part of the Texas Department of Transportation’s I-35 Capital Express Central scheme, which aims to significantly improve connectivity and enhance capacity for the 200,000 drivers who use the route each day.
Balfour has won a number of contracts this year. In the UK, this includes a £363m deal with National Grid to reinforce East Anglia’s electricity network as part of the country’s green energy build-out.
Shares are up nearly 30 per cent this year to date.