AMEC PFI Consortium is Preferred Bidder for £260 Million ..
AMEC PFI Consortium is Preferred Bidder for £260 Million Upgrade of A1 in Yorkshire London, United Kingdom (23 September 2002) - An AMEC consortium has been announced preferred bidder on a £260 million PFI contract to upgrade and operate, for a period of 30 years, a 33 mile section of the A1 between Darrington and Dishforth in Yorkshire. The Highways Agency said this morning that the 'design, build, finance and operate' contract will be negotiated with Road Management Ltd, a wholly owned subsidiary of Road Management Group which is owned in equal parts by AMEC, Alfred McAlpine, Dragados and Halliburton/Brown and Root. Payment will be through a pioneering new system developed by the Highways Agency - based on the consortium's ability to deliver a high quality road operating service, minimise congestion and reduce road accidents. Revenue for the consortium will be based on a sliding scale depending on the volume and speed of traffic using the road. This will act as an incentive to conduct essential activities, such as maintenance works at off peak times, and attend to incidents on the network quickly. AMEC Chief Executive, Sir Peter Mason, said: "This is excellent news for AMEC. We are committed to PFI and working with the government to deliver high quality facilities which benefit the community. "In addition to this new roads project, we are also currently preferred bidder on the Docklands Light Railway extension and we are in the later stages of bidding on hospital projects in Burnley and Newcastle. The PFI contract for the Darrington to Dishforth section of the A1 is planned for financial close towards the end of this year, with construction due to start in April 2003. The Highways Agency is nearing the completion of a £25 million programme of advance works near Ferrybridge to clear the way for motorway construction. AMEC offers a full range of services to the roads market, covering every phase of planning, construction, inspection, renovation and maintenance. The company already operates two PFI roads, the A419/A417 between Swindon and Gloucester and the A1(M) between Alconbury and Petersborough, and has a further two under construction - the A13 in East London and the Cross Israel Toll Highway. AMEC was also recently awarded a £10 million contract to refurbish five miles of the M25 between junctions 21 and 22 (which includes the M1 intersection). AMEC is a leading international provider of specialised services and engineering solutions for clients in manufacturing, commercial, infrastructure and process industries. AMEC applies knowledge, innovation and technology to generate value for clients throughout the life of their capital assets. AMEC owns 46 per cent of SPIE S.A., the international electrical engineering, infrastructure and construction services company based in France, and has an option to buy the outstanding shares. Together, AMEC and SPIE employ over 50,000 people in close to 50 countries and generate a turnover in excess of £5.5 billion. Contacts: AMEC: Neil Jamieson, Director, Investor Relations - +44 (0)20 7634 0063 firstname.lastname@example.org Nick Welsh, Manager, Corporate Communications - +44 (0)20 7634 0024 email@example.com www.amec.com Citigate Dewe Rogerson Martin Jackson - +44 (0)20 7638 9571 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/09/23/20020923BIT00840/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/23/20020923BIT00840/wkr0002.pdf