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Jarvis wins £40M Rugby remodelling

Contractor Jarvis has won the £40M contract to remodel Rugby station

Shares in Jarvis have soared by 50% since last week, with a current price of 38p.

Network Rail awarded Jarvis Rail Limited the final stage contract for the Rugby Station Remodelling Project, estimated to be worth in excess of £40m, today.

Chief Executive of Jarvis plc, Richard Entwistle said: "We are delighted to have secured the delivery of this final phase of this contract for Rugby Station Remodelling. This is one of our largest and most complex contracts and as Principal Contractor we have been undertaking major and preparatory works every weekend since it commenced in January 2007.

"The project in on schedule for completion in December 2008 and we are pleased that Network Rail has shown this confidence in our team."

This extension to the contract commences on 6 June 2008 and runs until the expected completion of the Project in December 2008. The workbank secured includes plain line and switches and crossing renewals and all associated through alignment tamping.

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