CARILLION PLC Further to the announcement made by Carillion on 12 June that Connect Roads consortium, now known as Aberdeen Roads Limited, comprising Carillion, Balfour Beatty and Galliford Try, had been appointed as the preferred bidder to finance, design build and operate the Aberdeen Western Peripheral Route/Balmedie to Tipperty Project (AWPR/B-T), Carillion announces today the consortium has now achieved financial close on this project.
15th December 2014
The project, which is estimated to be worth in the region of £550 million, is being delivered in partnership with Transport Scotland, Aberdeen City Council and Aberdeenshire Council and is being procured under the Scottish Government's Non-Profit Distribution (NPD) model.
Carillion expects to invest up to £20 million of equity (one third share) in the project and to have a one third share of the construction revenue. Following the completion of construction in winter 2017, the route will be managed and maintained by Aberdeen Roads Limited for 30 years.
Carillion Chief Executive, Richard Howson said: "We are delighted that our consortium has achieved financial close on the Aberdeen Western Peripheral Route/Balmedie to Tipperty project, which is the largest of its kind in Scotland to date. The project is firmly in line with Carillion's selective approach to construction, namely of focusing on large, high quality projects, notably those involving integrated solutions. We look forward to working closely with Transport Scotland, Aberdeen City Council and Aberdeenshire Council to deliver this major improvement to the transport network around Aberdeen."
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