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03Sep92 AUSTRALIA: BALFOUR BEATTY PULLS OUT OF £94M SYDNEY WATER SUPPLY BID IT WAS SET TO WIN.

Balfour Beatty has withdrawn at the eleventh hour from a £94 million water supply and sewerage scheme it looked set to win in Sydney, Australia.Local sources said the firm, in partnership with Australia's John Holland Construction, was widely tipped for the job before it pulled out.Company executives said 'commercial reasons' were behind the firm's decision, although banking sources in Sydney said Balfour Beatty could not get the necessary financial and bond guarantees to support ...

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