FX.co ★ Balfour Beatty Gets $746 Mln Contract To Rebuild Part Of Texas Interstate

Balfour Beatty Plc (BBY.L), the renowned British infrastructure company, revealed on Tuesday that it has secured a contract valued at approximately $746 million, equivalent to about 575 million pounds, from the Texas Department of Transportation. This contract entails the revitalization of a portion of Interstate 35 (I-35) traversing through Austin, Texas.

Under the terms of this agreement, Balfour Beatty will undertake the reconstruction of a four-kilometer segment located on the southern periphery of downtown Austin. Upon completion, this renovation will introduce eight general-purpose lanes, an extensive new intersection, and several upgraded access roads.

The primary construction activities are slated to commence in the first half of 2025, with the completion target set for 2033. During the peak construction stage, Balfour Beatty will employ a workforce of over 150 individuals.

A noteworthy component of this project is the construction of a new bridge spanning the 416-acre Lady Bird Lake on the Colorado River, replacing the existing bridge, which dates back to 1956. Due to the expansive area and the water-centric nature of the task, the bridge will be erected from a barge.

Additionally, the project encompasses a bridge and an innovative intersection at Riverside Drive, designed to support the forthcoming light rail line aimed at enhancing the public transport network in the Central Texas Region.

Balfour Beatty highlighted that this endeavor is part of the Texas Department of Transportation's broader I-35 Capital Express Central initiative. The project is poised to significantly enhance connectivity and capacity for the approximately 200,000 motorists who traverse this segment of the interstate on a daily basis.