Balfour Beatty, leading international infrastructure group, has announced on Monday it is pulling out from both the water and gas markets as future opportunities “do not meet the Group’s selective bidding criteria”, reports Energy Live News.
Based in the United Kingdom, the multinational group has capabilities in construction services, support services and infrastructure investments, including gas and water.
The company confirmed its withdrawal from the water and gas markets as it published its half year results for 2020, with an underlying loss from operations at £14 million (approximately US$16.6 million), which it faults on the impact of the coronavirus pandemic.
Concerning Balfour Beatty’s water contracts, the company currently has relevant contracts with English companies Anglian Water, Thames Water and United Utilities.
The firm has said that “Under the new AMP7 regulatory period (2020-2025) contracts are generally being awarded on terms that are not acceptable to Balfour Beatty and therefore the Group is only expected to retain the Anglian Water contract.”
