Business
INFRASTRUCTURE AND REGIONAL BUILDING UPDATE
INFRASTRUCTURE AND REGIONAL BUILDING UPDATE.
About this update from Kier Group Plc
[{"type":"text","content":"\n \nRNS Number : 4619C Kier Group PLC 22 January 2018 \n\n \n \n22 January 2018\n \nKIER GROUP PLC\nINFRASTRUCTURE AND REGIONAL BUILDING UPDATE\n \nKier, a leading property, residential, construction and services group, provides the following updates relating to its infrastructure and regional building businesses.\n \n· HS2 and Highways England smart motorway joint ventures transfer from Carillion;\n· £140m additional infrastructure contracts awarded; and\n· £160m Public Health England contract award.\n \nInfrastructure\nFurther to the announcement of 15 January and after discussions with the Government and their clients, Kier confirms the following:\n· On HS2, Kier and Eiffage are now 50/50 joint venture partners delivering two of the seven civil engineering packages, lots C2 and C3. All 51 Carillion employees, including apprentices, working on the CEK HS2 joint venture have been offered the opportunity to join Kier/Eiffage with continuous service to the client being maintained; and\n· Kier has assumed full responsibility for the Highways England smart motorway schemes on which it had been working in joint venture with Carillion. All employees currently working on the schemes have been offered the opportunity to join Kier. In total c.150 employees will be making the transition to Kier in the next week including seven apprentices. Engagement with the existing supply chain on this project has also taken place, again ensuring continuity of skills, resources and suppliers.\n \nThe above contracts are all performing well, operationally and financially.\n \nIn addition, following the acquisition of McNicholas in July 2017, a number of contract extensions have been awarded to this business, totalling £140m. These include:\n· A five-year £31m 'Gas to the West' network distribution operation for SGN Natural Gas in Northern Ireland, which secures the Group's place as the principal contractor to three gas distributors in Northern Ireland;\n· A £40m contract extension to 2022 to the Phoenix Natural Gas contract in Northern Ireland, and;\n· ...