Balfour Beatty will become the first building contractor in the FTSE 100 since Tarmac left in 1992. It will replace HBOS in the index’s January 19 reclassification.

The company, which is building the Aquatic Centre for London’s 2012 Olympics, has a market capitalisation of about £1.6bn ($2.3bn). It has operations in the UK, US, Dubai and Asia.