Carillion awarded Network Rail contracts

Carillion has bagged two new contracts on Network Rail’s Midland Mainline improvement programme.

The embattled contractor is to upgrade the existing track and infrastructure on the route from London to Corby, which is expected to be worth £62m in revenue over the next two-and-a-half years for the firm.

Carillion’s joint venture with Powerlines Group is also to complete the electrification on the same route, which is anticipated to generate £260m in revenue for the venture over the next three years.

Keith Cochrane, interim chief executive at Carillion, said: “The group faces significant challenges, but we remain focused on executing our disposals programme, taking cost out and strengthening our balance sheet.”