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Joint venture to deliver £1bn London heat network

Greg Pitcher — Wed, 06 Nov 2024 10:41:40 +0000

A £1bn low-carbon heat distribution system in central London will be delivered by a joint venture (JV) between power specialists Vital Energi and Hemiko. The pair, operating as the Swan Partnership, will fund, build and operate the South Westminster Area Network to capture waste heat…

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Balfour scoops £575m US road deal

Greg Pitcher — Tue, 05 Nov 2024 12:14:18 +0000

Balfour Beatty has secured a $746m (£575m) deal to rebuild a section of the iconic Interstate 35 in the US. The contractor will upgrade a 4km chunk of the highway in Austin for the Texas Department of Transportation. The I-35 runs almost the entire length…

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HS2 works ‘may have contributed’ to flooding

Will Ing — Tue, 05 Nov 2024 11:19:40 +0000

HS2 works may have compounded flooding in some areas, according to the construction commissioner scrutinising the project. In his latest report, covering the second quarter of 2024, independent commissioner for HS2 Sir Mark Worthington said he had heard “a number of reports of localised flooding…

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Scottish Water seeks contractors for £800m framework

Ian Weinfass — Mon, 04 Nov 2024 11:05:21 +0000

Scottish Water is looking for contractors to deliver between £500m and £800m of works under its ceramic membrane capital investment programme. The publicly owned utility company published a contract notice on 1 November inviting bids from firms to deliver the new water filtration programme. Up…

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Budget: Five ‘unaffordable’ road schemes scrapped

Ian Weinfass — Thu, 31 Oct 2024 12:17:24 +0000

The government has scrapped five National Highways road projects, saying it cannot afford them. Treasury documents released alongside yesterday’s Budget show that it is halting work on the A5036 Princess Way, A358 Taunton to Southfields, M27 J8 Southampton, the A47 Great Yarmouth Vauxhall Roundabout and…

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Balfour Beatty boss welcomes Budget infrastructure boost

Colin Marrs — Thu, 31 Oct 2024 09:16:50 +0000

Leo Quinn, the boss with the biggest wage bill in construction, has given a cautious welcome to the Budget. Chancellor Rachel Reeves yesterday (30 October) announced a 1.2 percentage point rise in employers’ national insurance (NI) contributions and lowered the threshold at which employers start…

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Budget: Billions pledged for green energy schemes

Colin Marrs — Wed, 30 Oct 2024 16:48:10 +0000

The government has announced billions in new funding for green energy projects next year, but experts have raised concerns over grid connections. In early October, the government announced a £21.7bn investment over 25 years in carbon capture projects based in Teesside and Merseyside. Chancellor Rachel…

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Budget: HS2 Euston terminus confirmed

Joshua Stein — Wed, 30 Oct 2024 16:47:33 +0000

HS2 will run to Euston Station, the Labour government confirmed today, but it remained tight-lipped on any plans to pay for the London high-speed rail terminus with public money. In her first budget since becoming chancellor of the exchequer, Rachel Reeves confirmed on Wednesday (30…

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Profit boost as rail specialist’s turnover exceeds £400m

Ben Vogel — Mon, 28 Oct 2024 12:45:18 +0000

Record turnover last year helped civils contractor Colas Rail boost its pre-tax profit by almost 60 per cent. Annual revenue rose by 10 per cent on 2022 to reach an all-time high of £403.7m, the firm announced in its accounts for the 2023 calendar year.…

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OCU Group swoops to buy drilling firm

Chris Smith — Thu, 24 Oct 2024 10:32:38 +0000

A drilling firm has become the latest acquisition for utilities specialist OCU Group. The private equity-backed group acquired Peter McCormack & Sons, which specialises in trenchless technology solutions, for an undisclosed sum, OCU said when announcing the deal this morning (24 October). OCU chief executive…

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