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Date: Tuesday 08 Jul 2008

LONDON (ShareCast) - Engineering and construction firm Balfour Beatty said its joint venture has received a letter of acceptance for a £300m rail systems contract in Malaysia.

The project will be worth £160m to Balfour Beatty and will be carried out with Ansaldo STS.

"We are delighted to continue our co-operation with the development of a modern, high-speed rail network in South-East Asia," said Balfour chief executive Ian Tyler.

"Balfour Beatty Rail has played an integral part in the development of the Malaysian rail network and this award is confirmation of continued customer confidence in our ability to implement complex rail systems on a large scale," he added.

• News Channel