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NEWS IN BRIEF

NEWS

Brown & Root Services has won the construction supervision contract for the £262M Dublin Port Tunnel. The project will be the largest civil engineering project in the whole of Ireland.

Construction of a £5M flood defence scheme for Bideford in North Devon will begin in October. The Department for Environment, Food & Rural Affairs has approved the scheme and awarded a grant to cover 45% of the total contract cost.

Alfred McAlpine last week agreed final terms for the deal to sell its housing division to Wimpey for £461M. Wimpey said it was staggering the payments so it could minimise borrowings and maximise funding for the project. Under the deal Wimpey will pay an initial £200M. The rest will be paid in two £50M instalments in December and January, a £51M instalment in March and a final payment of £110M in August 2002.

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