Balfour Beatty and Atkins reach financial close on £132m M77 PFI road

Connect, the Balfour Beatty/Atkins joint venture, has reached financial close on the £132m M77 design, build, finance and operate road scheme in Scotland.

The M77 Fenwick to Malletsheugh/Glasgow Southern Orbital scheme covers around 25km of dual carriageway and motorway. It is designed to improve strategic links between Lanarkshire, Ayrshire and Glasgow.

15km of the existing A77 will be upgraded to motorway standard by extending the M77 Ayr road route south to the dual carriageway at Kilmarnock. A new 9km section of the Glasgow Southern Orbital dual carriageway will link the new section of the M77 with the A726 at Philipshill.

Balfour Beatty Civil Engineering will undertake the 24-month construction programme. The project is being financed by a fixed rate investment grade bond. Balfour Beatty has a 67% share in the Connect joint venture.