Balfour Beatty PLC BALFOUR BEATTY JV AWARDED $1.95 BN CONTRACT (1023F)

TIDMBBY

RNS Number : 1023F

Balfour Beatty PLC

16 February 2018

News Release

16 February 2018

BALFOUR BEATTY JOINT VENTURE AWARDED $1.95 BILLION (c. GBP1.4 BILLION) CONTRACT BY

LOS ANGELES WORLD AIRPORTS FOR AUTOMATED PEOPLE MOVER

Balfour Beatty, the international infrastructure group, has been awarded, in joint venture, a $1.95 billion (c. GBP1.4 billion) design, build, finance, operate and maintain contract for the 'Automated People Mover' at Los Angeles International Airport (LAX) by Los Angeles World Airports (LAWA).

The design and build element of the contract has been awarded to the LAX Integrated Express Solutions (LINXS) joint venture comprising of Balfour Beatty (30 percent), Fluor Corporation (30 percent), Flatiron West (20 percent) and Dragados USA (20 percent).

The design and build works will include a 2.25-mile, above ground airport transport system connecting the LAX central terminal area to the to-be-constructed consolidated rental car facility as well as six stations and a vehicle maintenance facility. Once completed, travellers will enjoy a transportation system that operates up to nine trains simultaneously and moving walkways to the terminals and parking garages.

LINXS equity members include Balfour Beatty Investments (27 percent), Fluor Enterprises (27 percent), Hochtief PPP Solutions GmbH (18 percent), ACS Infrastructure Development (18 percent) and Bombardier Transportation (Holdings) USA (10 percent). This project represents Balfour Beatty Investments' first major public-private partnership (P3) in the US civil infrastructure market.

Leo Quinn, Balfour Beatty Group Chief Executive, said: "This award at LAX, one of the world's busiest airports, recognises our expertise and track record for delivering critical transportation infrastructure."

ENDS

Analyst/investor enquiries:

Angus Barry

Tel. [phone]

[e-mail]

Media enquiries:

Louise McCulloch

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Notes to editors:

-- Balfour Beatty (www.balfourbeatty.com) is a leading international infrastructure group. With 30,000 employees, we provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. 4We finance, develop, build and maintain complex infrastructure such as transportation, power and utility systems, social and commercial buildings.

-- Our main geographies are the UK, US and the Far East. Over the last 100 years we have created iconic buildings and infrastructure all over the world including the London Olympics' Aquatic Centre, Hong Kong's first Zero Carbon building, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.

-- Balfour Beatty's US business is an industry-leading provider of general contracting, at-risk construction management and design-build services for public and private sector clients across the nation. Performing heavy civil and vertical construction, the company is consistently ranked among the nation's largest building contractors, and is the No. 6 Domestic Building Contractor as ranked by Engineering News-Record. To learn more, visit www.balfourbeattyus.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 16, 2018 02:00 ET (07:00 GMT)