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Costain Group PLC Costain selected as AMP7 delivery partner

20/03/2019 7:00am

UK Regulatory (RNS & others)


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RNS Number : 3619T

Costain Group PLC

20 March 2019

Costain Group PLC

("Costain" or "the Group" or "the Company")

COSTAIN SELECTED BY SEVERN TRENT AS AMP7 DELIVERY PARTNER

20 March 2019

Costain, the smart infrastructure solutions company, has been awarded a place on Lot 1 of the Capital Delivery Framework by Severn Trent Water, as part of the delivery of its c. GBP2 billion capital programme for Asset Management Period (AMP) 7.

Under the contract, Costain will bring together its design, construction and consultancy expertise to undertake renewal and refurbishment projects and the detailed design and build of capital projects.

As part of the Capital Delivery Design and Build Frameworks lot, Costain will look to assist Severn Trent in its target to make continuous improvements to its safety performance, whilst ensuring continuity of supply and consequently lowering costs of its customers.

The contract builds on Costain's involvement in Severn Trent's AMP6 programme through to AMP7, and is worth c. GBP250 million to the Group over the five year period. The contract will commence in April 2019 and will run from 2020 - 2025, with potential to extend the contract for a further 36 months.

The Group continues to be involved in a wide range of tendering activity across the water sector in anticipation of AMP7.

Andrew Wyllie CBE, chief executive of Costain, commented:

"We're delighted to have secured a place on the capital delivery framework and is testament to our track record of performance on AMP6 for efficient and safe delivery. On this framework we will provide technology-led solutions to help Severn Trent as they commit significant investment to ensuring the provision of a resilient water future for households and businesses in the Midlands and mid-Wales."

ENDS

Notes to Editor

Costain helps to improve lives with smart infrastructure solutions across the UK's energy, water and transportation infrastructures. We help to safeguard the security, increase the capacity, improve customer service and drive efficiency in our clients' infrastructure programmes. Our strategy is to become the UK's leading smart infrastructure solutions company through our focus on blue chip clients whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements. We offer a broad range of innovative services across the whole life cycle of our clients' assets by integrating complex delivery, consultancy, technology and asset optimisation services. Our culture and values underpin everything we do.

For more information visit www.costain.com

Enquiries:

 
 Costain                                       Tel: 01628 842 
                                                          444 
 Andrew Wyllie CBE, Chief Executive 
 Tony Bickerstaff, Chief Financial Officer 
 Carolyn Rich, Investor Relations Director 
 Sara Lipscombe, Group Communications 
  Director 
 
 Instinctif Partners                            Tel: 020 7457 
                                                         2020 
 Mark Garraway 
 James Gray 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 20, 2019 03:00 ET (07:00 GMT)

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