Morgan Sindall JV Named Preferred Bidder For GBP500 Million Pact

Morgan Sindall Group PLC (MGNS.LN), a construction and regeneration group, said Wednesday Morgan Sindall, its construction and infrastructure division, as part of joint venture MSVE Transmission, has been appointed preferred bidder for a potential GBP500 million electricity transmission overhead line partnership to deliver National Grid's overhead line construction program for the next five years.

MAIN FACTS:

-Morgan Sindall will work in joint venture with Vinci Energies, a company which provides a range of services in energy and information technologies.

-Majority of the first year's work will be spent on the design and development of the program of work scheduled in years two to five.

-First year will also include a project to replace the Quad Aluminum Conductor Steel Reinforced, or ACSR, fittings on a 400kV overhead line.

-Partnership's scope for the remainder of the contract will include a variety of projects to refurbish and construct 400kV overhead lines and towers across England and Wales.

-Morgan seeing a number of opportunities in the energy sector and is well placed to benefit from this trend.

-Shares closed Wednesday at 546.5 pence valuing the company at GBP236.17 million.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com

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