Balfour Beatty PLC on Tuesday said it has been awarded a $746 million contract by the Texas Department of Transportation to rebuild part of interstate 35, which goes through Austin, Texas.
The London-based infrastructure construction contractor will rebuild a four kilometre section of road, to provide eight general purpose lanes, a new ‘major’ intersection and multiple upgraded access roads.
It will also build a new bridge across the 416-acre Lady Bird Lake, located on the Colorado River, to replace the existing bridge which was built in 1956. The bridge will be constructed from a barge.
The project also includes a bridge and innovative intersection at Riverside Drive to support the future light rail line, which will expand the public transport network available in the central Texas region.
Chief Executive Officer Leo Quinn said: ‘This latest contract award demonstrates our leading civil engineering capabilities and is testament to our 30-year history of delivering projects for the Texas Department of Transportation. Our selective bidding approach ensures that we leverage our strengths to work with long-term customers in the geographies in which we have proven expertise, strong teams and trusted supply chain partners.’
Construction will begin in the first half of 2025, with completion expected in 2033.
Shares in Balfour Beatty were up 1.2% at 441.20 pence each in London on Tuesday morning.
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