£37.5 million Wales power cable contract for Balfour Beatty
Balfour Beatty, the international infrastructure group, has announced that its Power Transmission & Distribution business has been awarded a new framework agreement by Western Power Distribution for its excavation, cable laying and reinstatement works in the South Wales operating region.
Balfour Beatty has signed the initial three year contract, worth circa £37.5 million, to manage planned and reactive low voltage to 33Kv cabling works. By assisting our client to maintain the integrity of their network, we are helping to provide a continual supply of energy to the region.
Work is due to start on the 1st November 2015 and subject to successful performance, there is an option to extend the agreement for a further two years, taking the overall potential value to around £62 million over five years.
Neil Kirkby, Balfour Beatty Managing Director - Power Transmission & Distribution, said: “Securing this new framework agreement is once again recognition of the capability and expertise we bring to the industry. We have worked with Western Power Distribution for over 20 years and we’re looking forward to continuing this relationship.
“Balfour Beatty is committed to delivering high levels of client satisfaction and we will be doing everything we can to help Western Power Distribution achieve its targets.”
Balfour Beatty is committed to providing benefits to the local communities in which they operate and the project will include approximately 170 employees with 90 percent of this direct employment for Balfour Beatty, and a cohort of local sub-contractors who have remained on the contract for several years.
France to invest €1.8bn in Egypt’s infrastructure
France will invest a total of €1.8bn into Egypt’s infrastructure focusing specifically on upgrading the Cairo Metro, building a railway to Sudan, and developing water and energy schemes. Officials have called the investment a “major boost to bilateral cooperation”.
The Cairo Metro
Included in the financing is a concessional government loan of around €800mn to upgrade Line 1 of the Cairo Metro, introduced in the 1980s. The financing will pay for 55 trainsets for the line and is provided by the French engineering company, Alstom.
Line 6 is also due to be upgraded using further state-guaranteed loans worth up to €2bn. Bruno Le Maire said that this would be negotiated over the next six months. France and Egypt have worked in close cooperation ever since Abdel Fattah al-Sisi became president in 2014, despite differences over human rights and strong criticism of Egypt by rights activists and some foreign states.
Nine more projects over the next half a decade
A further €1bn from France’s development agency, Agence Française de Développement (AFD), aims to cover a range of other projects over the next half a decade.
These projects include a railway line between Aswan, southern Egypt, and Wadi Halfa in Sudan, as well as several projects in the renewable energy and water purification industries. Bruno Le Maire, France’s Finance Minister, said Egypt was a “strategic partner and commercial dealings with it would be developed. France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans,” he said.
According to Le Maire, the AFD will also €150mn to support the construction of a universal health insurance programme. French contractors such as Vinci and Bouygues have a long history of working on the Egyptian capital’s underground system.
Talking about the relationship between France And Egypt, Le Maire concluded: “France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans”.