Costain Group PLC Contract (6632M)
01 August 2017 - 4:01PM
UK Regulatory
TIDMCOST
RNS Number : 6632M
Costain Group PLC
01 August 2017
Costain Group PLC
High Speed Two contract awards
Costain, the engineering group, deploying technology-based
solutions to meet urgent national needs across the UK's energy,
water and transportation infrastructures, announces that High Speed
Two Ltd ("HS2") has, following the announcement of 17 July 2017,
formally awarded Costain, in joint venture, two Main Work Civil
Construction (S1 and S2) packages.
The S1 package will link London Euston and Old Oak Common and
involves the construction of two tunnels of 8.8 km each and a
bridge extension. The S2 package will run from Old Oak Common with
two tunnels of 13.7 km each and an above-ground section of 2.2 km
that will link up with Lot C1. The design phase is to be completed
in 2018 with construction expected to be completed by 2023.
HS2 will significantly increase capacity on the UK's rail
network, boosting connectivity between the UK's major cities and
significantly reducing current journey times.
The combined contract value is estimated at circa GBP1.8 billion
to the SCS consortium comprising Skanska (34%), Costain (34%) and
STRABAG (32%).
Andrew Wyllie, Chief Executive, commented:
"We are delighted to have been awarded these major contracts by
HS2 and which follow on from the South Enabling Works Contract
awarded last year.
"The awards are further testimony to Costain's collaborative
approach and strong track record in applying technology-based
innovative solutions in the delivery of large-scale projects."
1 August 2017
Costain Tel: 01628 842 444
Andrew Wyllie CBE, Chief Executive
Tony Bickerstaff, Finance Director
Catherine Warbrick, 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 company news service from the London Stock Exchange
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