The multinational facilities management and construction services company has signed a contract with Network Rail to upgrade the existing track and infrastructure on the London to Corby (Northamptonshire) route.

The contract is expected to generate revenues of £62m for the group over the next two and a half years.

Carillion Powerlines – a 50:50 joint venture with Powerlines Group – will work on the contract in respect of the Midland Mainline electrification programme.

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Under the agreement, Carillion Powerlines will carry out work to complete the electrification of the route from London to Corby.

The contract is expected to generate revenue of around £260m for the joint venture over the next three years with work expected to commence shortly.

Keith Cochrane, interim chief executive at Carillion, said: “We are pleased to have agreed these awards with Network Rail, demonstrating that we continue to have the support of key customers and win important new contracts.

“The group faces significant challenges, but we remain focused on executing our disposals programme, taking cost out and strengthening our balance sheet.”