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You can find the current article at its original source at https://www.theguardian.com/business/2018/feb/16/balfour-beatty-build-la-airport-transport-system
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| Version 1 | Version 2 |
|---|---|
| Balfour Beatty to help build new LA airport transport system | Balfour Beatty to help build new LA airport transport system |
| (35 minutes later) | |
| UK construction firm has 30% stake in joint venture that won $1.95bn contract | UK construction firm has 30% stake in joint venture that won $1.95bn contract |
| Reuters | Reuters |
| Fri 16 Feb 2018 15.59 GMT | |
| First published on Fri 16 Feb 2018 14.22 GMT | |
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| Balfour Beatty is part of a joint venture that has won a $1.95bn (£1.38bn) contract relating to building, financing and managing a new transport system at Los Angeles international airport (LAX). | Balfour Beatty is part of a joint venture that has won a $1.95bn (£1.38bn) contract relating to building, financing and managing a new transport system at Los Angeles international airport (LAX). |
| The contract will include designing and building a 2.25-mile (3.6km), above-ground airport transport system to connect LAX central terminal area to a rental car facility, six stations and a vehicle maintenance facility, the UK construction company said in a statement. | The contract will include designing and building a 2.25-mile (3.6km), above-ground airport transport system to connect LAX central terminal area to a rental car facility, six stations and a vehicle maintenance facility, the UK construction company said in a statement. |
| The design and build part of the contract has been awarded to a joint venture of construction groups, in which Balfour and Fluor Corp each have 30% stakes, while Flatiron West and Dragados USA each have 20% stakes. | The design and build part of the contract has been awarded to a joint venture of construction groups, in which Balfour and Fluor Corp each have 30% stakes, while Flatiron West and Dragados USA each have 20% stakes. |
| Last month Balfour Beatty revealed that it may take an exceptional charge of £35m-£45m relating to its involvement in three road construction joint ventures with Carillion, after the stricken construction and outsourcing company went into compulsory liquidation. | Last month Balfour Beatty revealed that it may take an exceptional charge of £35m-£45m relating to its involvement in three road construction joint ventures with Carillion, after the stricken construction and outsourcing company went into compulsory liquidation. |
| Balfour Beatty said it would continue to work with its customers and meet its contractual commitments on the three projects, the Aberdeen Western Peripheral Route, the A14 in Cambridgeshire and the M60 junction 8 to M62 junction 20 scheme. | Balfour Beatty said it would continue to work with its customers and meet its contractual commitments on the three projects, the Aberdeen Western Peripheral Route, the A14 in Cambridgeshire and the M60 junction 8 to M62 junction 20 scheme. |
| The company said the profit impact of Carillion’s compulsory liquidation would be recorded as an exceptional non-underlying charge in the income statement. | The company said the profit impact of Carillion’s compulsory liquidation would be recorded as an exceptional non-underlying charge in the income statement. |
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