- Infrastructure group Balfour Beatty said Thursday it had been selected as preferred bidder for Network Rail's £1.5bn to upgrade tracks across London and East Midland.

Under the contract, Balfour Beatty, which had 80% share in the ten-year alliance, would be responsible for the development, design and delivery of track renewals and crossings as well as the associated infrastructure works across London North West, London North East and East Midland routes.

The company said it expected a full contract award to be confirmed in the second quarter of 2019 and works to get underway later this year.

At 9:27am: [LON:BBY] Balfour Beatty PLC share price was +2.45p at 287.65p

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