U.K. infrastructure spending will grow "significantly" as water, power and airport projects outweigh budget cuts for schools and public buildings, according to Balfour Beatty Plc, Britain's biggest builder.

Overall prospects for Britain's infrastructure market remain "very strong," though Balfour is budgeting for a decline in state projects over the next four or five years, Chief Executive Officer Ian Tyler said in a telephone interview.

Britain's government is preparing the deepest cuts to public spending since World War II, threatening projects to build schools, prisons and railways. Balfour is partly shielded by contracts including a 460 million-pound ($721 million) order to expand Heathrow airport's Terminal 2.

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Posted by mopeng at August 11, 2010 8:46 PM