StockMarketWire.com - International infrastructure group Balfour Beatty, in a 50:50 partnership with Transfield Services, has formed a bid consortium to target outsourcing opportunities in highways maintenance on the east coast of Australia.

These opportunities have arisen from the 'reform agenda' in the states of New South Wales, Queensland and Victoria which aims to reduce the cost of providing public services.

Balfour Beatty, as part of its strategy to focus in growth geographies and markets, has recognised that the highways maintenance market in Australia is ready for a new provider to bring innovative thinking to these future contracts.

A joint team from Australia and the UK has collaborated to transfer knowledge and best practice developed in recent years in the UK to Australian markets.

Chief executive designate Andrew McNaughton said: "Highways maintenance is a core strength of ours in the UK and US, and Australia is a target growth market.

"We expect that over the next two to three years, there will be up to 12 contracts tendered in Australia and we are competitively positioned to bid for these deals by mobilising a specialist UK team to support our well established Parsons Brinckerhoff business in the country."

At 8:45am: [LON:BBY] Balfour Beatty share price was +0.35p at 282.05p


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