Babcock JV awarded contact to manage nuclear sites

1st Sep 2014 14:15

Cavendish Fluor Partnership, a joint venture between Fluor Corporation and Cavendish Nuclear, a subsidiary of Babcock International, has been formally awarded a contract to manage 12 UK nuclear sites.The agreement, under which it will also manage the sites' respective decommisioning programmes, comes after it officially took ownership of Magnox Research Sites Restoration (RSR).The contract will take effect immediately and makes the Cavendish Fluor Partnership the new parent body organisation for the two Site licence companies, Magnox and RSR. Allowing for changes to the bid scope, the total contract value is expected to be around £4.2bn for 13.5 years. The Cavendish Fluor Partnership will be responsible for the delivery of the 12 sites to an agreed and defined point for each; either interim end state or into care and maintenance. Over the full term, the contract represents savings of more than £1.5bn to UK tax payers. Babcock chief executive, Peter Rogers, said: "We are delighted that the Cavendish Fluor Partnership has become the parent body organisation for Magnox and RSR. Both joint venture partners have strong track records in successfully delivering complex programmes at sites across the UK and in the US."They look forward to working alongside the nuclear decommissioning authority to deliver a world-class decommissioning solution for the 12 UK sites, meeting the highest standards of safety and environmental compliance."Shares had inched 0.09% higher to 1,122p by 13:55. NR