September 30, 2019 / 12:33 PM / 4 months ago

Interserve wins part of 1-bln pound Yorkshire Water improvements

Sept 30 (Reuters) - Interserve Group, the British outsourcer formerly known as Interserve Plc until it was placed in administration in March, said on Monday it has won a place on two improvement schemes worth 1.04 billion pounds ($1.28 billion) for utility Yorkshire Water.

One of the framework contracts, in which Interserve has been included is worth 750 million pounds and involves construction and refurbishment works for Yorkshire Water’s operational treatment area.

That framework will initially run for five years with an option to extend for three more years, the company said.

The second framework has an estimated value of 290 million pounds and relates to above or below ground projects, including operational treatment sites, collection or distribution, assets including process treatment and water retaining structures.

Interserve Plc, one of the British government’s biggest contractors, was taken over by its lenders early in the year as shareholders rejected a rescue plan for the company.

($1 = 0.8125 pounds)

Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Arun Koyyur

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