Construction News

06/11/2017

Carillion Scoops Two New Network Rail Contracts

Network Rail has awarded Carillion two new contracts to deliver work on its Midland Mainline improvement programme.

The first deal, which is expected to generate £62 million in Group revenue over the next two and a half years, will see Carillion upgrade the existing track and infrastructure on the route from London to Corby.

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Elsewhere, the company's 50:50 Joint Venture with Powerlines Group (Carillion Powerlines) will carry out work to complete the electrification of the route from London to Corby. The deal is expected to generate £260m of revenue for the JV over the next three years. Work is set to begin shortly.

Keith Cochrane, 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."

(LM)

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