An example is engineering and construction group Balfour Beatty, one of the preferred bidders for London Underground PPP, which reported in August that PFIs underpinned its 17% rise in underlying profit growth.

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He then went to work for the Bechtel Group, an international engineering, construction and energy company, working in places like Texas, California and Russia.

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The Meruelo Group, which counts construction, engineering, real estate, food service and private equity among its businesses, also owns the Grand Sierra Resort and casino in Reno, Nev.

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Under the deal, Wood Group PSN (WGPSN) will continue to provide engineering, procurement, construction and services to Total's Alwyn, Dunbar, Elgin and Franklin offshore platforms and the St Fergus onshore gas plant.

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