06.11.17
Carillion gets £300m boost with award of two major NR contracts
Network Rail has awarded two major contracts to Carillion to deliver part of the Midland Mainline improvement programme.
The first contract will see Carillion upgrade the existing track on the route from London to Corby, and is expected to generate £62m over the next two and a half years.
The second contract has been awarded to Carillion Powerlines as part of the Midland Mainline Electrification programme.
Carillion Powerlines, a 50:50 joint venture with Powerlines Group, will complete the electrification of the route from London to Corby.
Over the next three years it is expected that the contract will generate a revenue of around £260m for the partnership, and will commence shortly.
Keith Cochrane, Carillion interim chief executive, said: “We are pleased to have agreed these awards with Network Rail, demonstrating that we continue to have the support of key customers and win important new contracts.
“The Group faces significant challenges, but we remain focused on executing our disposals programme, taking cost out and strengthening our balance sheet.”
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