Business Services Industry
British Engineering Firm to Get Boost from Running London's Transit System.
Knight Ridder/Tribune Business News, August, 2002
By Robert Lea, Evening Standard, London Knight Ridder/Tribune Business News
Aug. 14--Balfour Beatty expects to swell its order book, already up 25 percent to UKpound 4.8 billion this year, by a further UKpound 2.3 billion in the autumn when its Metronet consortium gets the go-ahead to run the majority of the London Underground.
It expects to put UKpound 1 billion of Tube engineering and maintenance revenues for the next seven years on its books when it takes over the concession, now scheduled for November. That is over and above returns of up to 20 percent a year it expects on its UKpound 70 million equity investment in Metronet.
The order book will also benefit from clearance for the UKpound 1.3 billion, seven-year contract to run...
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