March 27, 2018

Powerlines acquires Carillion shares in electrification JV

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POWERLINES Group, Austria, has acquired the 50% stake held by Carillion in the Carillion-Powerlines joint venture, increasing its holding to 100% of the company, which is working with Network Rail on the Midland Main Line and Edinburgh - Shotts - Glasgow electrification projects.

Carillion entered liquidation on January 15 and Powerlines says the acquisition is an important prerequisite for the successful continuation of the two projects which are valued at more than £300m. Carillion employees are set to transfer to SPL Powerlines and the company says it expects to preserve 300 jobs.

NR awarded Carillion Powerlines a contract to complete 25kV 50Hz electrification of the Midland Main Line from Bedford to Kettering and Corby in November 2017, which the company said at the time of the contract award was expected to generate revenues of £260m.

Carillion Powerlines similarly won the £49m contract to electrify the Shotts Line between Holytown Junction and Midcalder Junction in January 2017. The work will facilitate the introduction of electric services between Edinburgh and Glasgow via Shotts in 2019.

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