Seven-year contract marks start of longer-term PPP deal to provide homes on three US air base
Balfour Beatty has won a $410m (£206m) PPP contract to deliver military housing for the US air force.
The firm's US PPP concession arm, Balfour Beatty Communities, will be the private-sector partner for the 50-year Air Mobility Command housing privatisation project. The scheme covers three air bases - Fairchild, in Washington, Travis in California, and Tinker in Oklahoma.
The initial seven-year contract worth $410m (£206m) will include the design, construction or renovation, and overall management of 2,435 housing units.
Construction will be undertaken by Balfour Beatty Construction US, which is executing all Balfour Beatty Communities' construction work in a programme that stretches to 2015.
Ian Tyler, chief executive of Balfour Beatty, said: “Finalising agreement for this project is a further milestone in confirming Balfour Beatty's leading position in the US PPP military accommodation market.
“Balfour Beatty Communities, which we acquired earlier this year, has given us a secure long-term profit and cash flow from a portfolio of high-quality concessions. It has also brought an experienced and successful management team to develop our presence in the developing US PPP market and has also added a strong support service capability to the US business mix.”