LONDON (ShareCast) - Construction group Carillion has sealed a £500m deal to build a by-pass in north east Scotland.
Carillion is leading a consortium that has achieved financial close on the Aberdeen Western Peripheral Route/Balmedie to Tipperty project. The consortium, known as Aberdeen Roads, also includes Balfour Beatty and Galliford Try.

Carillion expects to invest up to £20m of equity, or a one third share, in the project and to have a one third share of the construction revenue. After construction is complete in winter 2017, the route will be managed and maintained by Aberdeen Roads for 30 years.

Carillion chief executive Richard Howson said: "We are delighted that our consortium has achieved financial close on the Aberdeen Western Peripheral Route/Balmedie to Tipperty project, which is the largest of its kind in Scotland to date. The project is firmly in line with Carillion's selective approach to construction, namely focusing on large, high quality projects."

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