Neilcott on fast-track to debt-free employee ownershipSouth east contractor Neilcott Construction is close to clearing a £22.5m loan five years ahead of schedule after a bumper profit year.
The loan was taken out to help fund the £40m employee ownership buyout in 2021. Now just £1.5m remains outstanding, with the firm aiming to wipe it out by autumn – halving the original 10-year repayment…
Breakthrough on HS2’s second longest tunnelHS2 has smashed through another major milestone with the completion of the 8.4-mile twin-bore Northolt Tunnel under west London.
The the second longest tunnel on the route was built using four machines, with the final one Anne now breaking through 14 months after starting her drive on the second bore of the 3.4-mile eastern section.
The Northolt Tunn…
TfL kicks off race for £700m Tube station upgradeTransport for London has fired the starting gun on bidding for a new £700m Infrastructure Improvement Framework covering major Tube station upgrades and access works.
Up to four contractors will be picked to deliver a rolling pipeline of design and construction projects across the capital, with the deal running for four years and the option of…
Government wields procurement stick on late paymentMajor contractors could be barred from bidding for public sector contracts worth over £5m a year if they cannot prove they pay their supply chain within an average of 60 days.
The Government is proposing changes to procurement law that would force all public contracting authorities to exclude firms that fail to meet the payment benchmark.
T…
Hercules buys power line labour firm for £15.7mLabour supply specialist Hercules has struck a £15.7m deal to buy specialist overhead lines labour supplier Advantage NRG.
The acquisition marks its entry into the UK’s booming power and energy sector.
Hercules gains a 155-strong team of skilled operatives, giving it a strong foothold in a market expected to surge as National Grid rolls out…
Universal bid to fast-track planning for theme parkEntertainment giant Universal has formally lodged its bid to fast-track plans for a major theme park and resort in Bedford using a Special Development Order.
Universal confirmed on Thursday it had submitted a request to the Ministry of Housing, Communities and Local Government to secure planning permission for the new resort without going…
Developer Breck to transform former Ibstock brick factoryNorthern property developer Breck has completed the acquisition of the 21-acre former Ibstock Ravenhead Brickworks site in Upholland, near Wigan.
The factory was decommissioned in 2023 and the site will be transformed into a new residential community of approximately 300 homes.
The Lancashire-based developer aims to submit a detailed…
SP Energy Networks awards contracts worth £1.4bnSP Energy Networks has awarded contracts worth £1.4bn to deliver critical onshore transmission projects across central and southern Scotland.
The awards are the first round of a wider £5.4bn investment programme over the next decade to upgrade the national electricity grid.
The contracts cover a wide range of critical infrastructure,…
Balfour Beatty lands £833m carbon capture power plant jobBalfour Beatty has sealed an £833m deal to build the world’s first gas-fired power station with carbon capture and storage at the Net Zero Teesside project.
The firm will deliver major onshore works for the plant as construction partner to Technip Energies, working alongside GE Vernova and Shell Catalysts & Technologies.
The landmark…
Svella agrees deal to save Cubby ConstructionInvestment group Svella has agreed a deal to buy Cubby Construction saving it from possible administration.
Svella, run by former Stobart director Andrew Tinkler, confirmed it aimed to complete the deal next week protecting 214 jobs and the supply chain of the Carlisle-based contractor.
Family-owned £24m turnover Cubby ran into problems working on…