Ferrovial Agroman’s backlog in the UK, Ireland exceeds €1bn with Farrington deal

MADRID | Transport for London subsidiary Crossrail on Wednesday awarded a Ferrovial Agroman-participated consortium the contract to build the new Farringdon station. The contract is worth more than £200 million or more than €230 million. This project includes the construction of the station’s building, accesses and caverns.

When Farringdon opens, it will become one of Britain’s busiest train stations. Passengers will be able to reach Tottenham Court Road from Farringdon in 3 minutes, Paddington in 7 minutes and Heathrow in 31 minutes. Farringdon station will also provide a direct connection to Heathrow, Gatwick and Luton airports.

This is the third Crossrail programme contract to be awarded to the Ferrovial Agroman consortium in which Ferrovial Agroman, BAM Nuttall and Kier Construction (BFK) have all equal stakes. In December 2010, the consortium was awarded two other projects: the construction of two tunnels connecting Royal Oak with both Paddington and Farringdon stations, and the construction of the accesses and caverns of the Bond Street and Tottenham Court Road stations, in London’s city centre.

Alejandro de la Joya, CEO of Ferrovial Agroman, said that

“this contract increases Ferrovial Agroman’s backlog in the UK and Ireland to over €1 billion. Moreover, it reinforces our role as a leader in construction in such a highly competitive market as the UK, since we are actively participating in the development of London’s transportation network.”

As a result of this new contract, the Spanish-led consortium manages the largest business volume within the Crossrail programme, which will increase London’s railway transport capacity by 10% through the construction of 118 kilometers of infrastructure, connecting West and East London (Maidenhead with Heathrow, Shenfield and Abbey Wood).

Ferrovial Agroman obtained €3.143 billion in revenues and €171 million euro in EBITDA in the first nine months of 2011. The backlog amounts to €9.921 billion, of which €6.727 billion are attributable to projects and deals made outside Spain. International revenues amounted to €1.790 billion, that is, 57% of the total.

* The original source for this information is available here.

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