Costain Group PLC Six-year framework contract award (5555G)

TIDMCOST

RNS Number : 5555G

Costain Group PLC

07 November 2018

7 November 2018

Costain Group PLC

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

Costain awarded six-year framework contract by Highways England

Costain, the smart infrastructure solutions company, has been awarded a six-year framework contract by Highways England under the new partnership to deliver the Regional Investment Programme ('RIP') during Road Period 1 (2015-2020) and Road Period 2 (2020-2025).

Under the framework, Costain has been appointed as Delivery Integration Partner in the North Region & in the East Region covering the full lifecycle of the projects including development, design and complex delivery.

The combined value to Costain is expected to be c. GBP1.5 billion over the period of the framework.

The RIP will change the way schemes are delivered on the strategic road network moving to a longer-term, integrated approach to support Highways England in their ongoing transformation.

The work to be delivered under the framework is part of Highways England's ongoing objectives to improve safety, increase capacity and to improve the user experience across its network.

Costain brings significant expertise in the management of complex project delivery and a focus on technology and innovation, which will support the key objectives outlined by Highways England in its Strategic Business Plan for 2015-2020.

Andrew Wyllie CBE, chief executive, commented:

"I am delighted that Costain has been successful in securing this partnership, building on our longstanding strategic relationship with Highways England. We look forward to bringing our expertise in management of complex investment programmes to support Highways England with its ambitions for this framework."

Under Tranche 1 of the framework, Costain is working with Jacobs as a strategic partner to design and deliver the following schemes:

- A1 Scotswood to Brunton

- A1 Birtley to Coalhouse

- A1 in Northumberland

- A12 Chelmsford A120 Widening

Tranche 2 schemes will be announced during the course of the framework and following the finalisation of the second Road Investment Strategy (RIS2).

Enquiries:

 
 Costain                                 Tel: [phone] 
 Andrew Wyllie CBE, Chief Executive 
 Tony Bickerstaff, Chief Financial 
  Officer 
  Carolyn Rich, Investor Relations 
  Director 
  Sara Lipscombe, Group Communications 
  Director 
 
 Instinctif Partners                     Tel: [phone] 
 Mark Garraway 
 James Gray 
 

Notes to Editors

Costain helps to improve people's lives by deploying technology-based engineering solutions to meet urgent national needs across the UK's energy, water and transportation infrastructures. We have been shaping the world in which we live for the past 150 years.

The Group's 'Engineering Tomorrow' strategy involves focusing on blue chip clients in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.

Costain's 4,000 people are committed to high performance and safe delivery. They are delivering a broad range of innovative services including consultancy, technology, asset optimisation and complex delivery services across a range of high profile contracts in the UK incorporating the whole life cycle of our clients' assets.

For more information visit www.costain.com

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November 07, 2018 02:00 ET (07:00 GMT)