Galliford Try wins place on £600m Thames Water programme
Construction firm Galliford Try has won a place on two new lots on Thames Water’s new infrastructure improvement framework.
The company’s environment business will work on the two projects, which could bring in as much as £240m over the next four years.
The total pipeline of the project is valued at £590m, with Galliford Try forecasting that its work could be worth £60m a year.
Shares in the firm rose 0.9 per cent this morning.
In lot three, Galliford Try will be undertaking works throughout London to Thames Water’s above ground facilities, including clean and wastewater treatment works, pumping stations and reservoirs.
Lot six includes below ground infrastructure including the clean water and sewerage networks across the South London region.
The new awards come after the construction firm won places on lots one and two earlier this year.
Chief executive Bill Hocking said: “We are delighted to be further cementing our relationship with Thames Water following the previous announcement in May.
“These appointments are fundamental to the Group’s strategy of focusing on long term frameworks and high-quality client relationships, with water one of identified key sectors.
“We look forward to deepening our collaboration with Thames as we deliver for their customers over the coming years.”
AMP7, as the new investment cycle is known, is expected to focus on water firms making environmental improvements to their sometimes creaking infrastructure.
However, the programme has not been without controversy, with some water companies rebelling against tough investment rules imposed by regulator Ofwat.