Carillion gets back on rails with deal to upgrade line

Embattled infrastructure giant Carillion has won two contracts with Network Rail to upgrade infrastructure in the Midlands.

The company said the first will see it spruce up existing track and infrastructure on the route from London to Corby, which will generate £62 million of revenue.

A separate deal through Carillion Powerlines, a joint venture firm, will see work undertaken to complete the electrification of the same route. This contract is expected to generate £260m of revenue over the next three years.

Carillion has been thrown into crisis since a shock trading update in July sent shares tumbling by more than 70 per cent in one week.