VINCI signs exclusive agreement with Balfour Beatty for the construction of pressurised water reactors in the UK
4 December 2008 - New contracts - United Kingdom
VINCI, through its subsidiaries VINCI Construction Grands Projets and VINCI Plc, has signed an exclusive agreement with Balfour Beatty, in the form of a 50/50 joint venture to bid on upcoming tenders issued as part of the United Kingdom’s programme to build next generation nuclear power plants. As the UK is the first European country to launch massively into the construction of these new power stations, ten pressurised water reactors (PWR) could be built.
The VINCI/Balfour Beatty joint venture’s mission is to successfully carry out project management, civil engineering and construction of infrastructure. It will draw on the expertise and know-how in the construction of nuclear power plants of the VINCI group and its UK subsidiaries, Taylor Woodrow Construction and Norwest Holst. “This is further proof of VINCI Construction Grands Projets’ recognised know-how in the field of civil engineering with high technical content".
“VINCI is delighted with this long-term partnership with Balfour Beatty. The exclusive alliance covers civil engineering for pressurised water reactors (PWR) projects, It will enable us to give the best possible response to the needs of our future customers as well as the investors and developers of nuclear power plants having selected that technology,” said Pierre Berger, chairman of VINCI Construction Grands Projets.
This operation is in keeping with VINCI’s strategy, whose objective is to become a leading partner in civil engineering for Areva’s PWR technology worldwide.
“This partnership will enable us to pursue further growth in the nuclear market through the medium and long terms. It is the outcome of our efforts and strategy aimed at capturing a huge market, estimated to be worth several billion euros worldwide by 2025,” stated Pierre Berger.
VINCI has been a player on the nuclear market for almost 50 years and has executed more than 80% of the civil engineering for France’s nuclear power plants. Taylor Woodrow Construction is a leader in civil engineering for the nuclear sector in the UK. VINCI Construction also carries out decommissioning through its subsidiary, Nuvia (Freyssinet group), and through VINCI Construction Grands Projets, which won the contract to build the containment shelter for the Chernobyl containment structure.
VINCI is the world’s leading integrated concession and construction group. With operations in 90 countries worldwide, VINCI has 158,000 employees and generated revenue of €30.4 billion in 2007. Its business is carried out by four major operating divisions: VINCI Concessions, VINCI Energies, Eurovia and VINCI Construction.
VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.