Costain Group PLC SOUTHERN WATER SELECTS COSTAIN JV AS AMP7 PARTNER (9870P)
16 October 2019 - 5:00PM
UK Regulatory
TIDMCOST
RNS Number : 9870P
Costain Group PLC
16 October 2019
Costain Group PLC
("Costain" or "the Group" or "the Company")
COSTAIN JOINT VENTURE SELECTED BY SOUTHERN WATER
AS AMP7 PARTNER
16 October 2019
Costain, the smart infrastructure solutions company, and its
existing joint venture partner MWH Treatment, have been selected by
Southern Water to extend the AMP6 contract as part of the water
company's AMP7 investment programme.
Under the extended contract the joint venture will bring
together its consultancy, design, digital, construction and
commissioning expertise to develop and deliver a range of solutions
to maintain and improve Southern Water's water supply and
wastewater treatment in meeting their outcome commitments.
This builds on work undertaken in AMP6 and will see Costain and
MWH Treatment deliver their element of the forthcoming AMP7
regulatory investment programme as part of Southern Water's
multibillion-pound Business Plan 2020-2025.
The AMP 7 contract will begin in April 2020 and will see Costain
collaborating with Southern Water ensuring they optimise innovation
and efficiency throughout AMP7 delivery. Pending final
determination of Southern Water's 'Water for Life' Business Plan,
this initial contract is worth approximately c. GBP325 million to
the joint venture in an equal share over the five-year period.
Against a backdrop of rising regulatory requirements across the
UK water sector, companies have pledged to provide value for money
for their customers, while adding value to communities and the
environment. This will be achieved through long-term stewardship of
the environment, assets and relationships with customers.
Costain continues to operate across the water sector, which is
evolving at pace to meet the demands of population growth, climate
change, environmental protection, and improving customer service.
These result in the need for the Group's clients to evolve their
business strategies and investment priorities. Costain's 'Leading
Edge' strategy closely aligns its services to meet these changing
needs.
Alex Vaughan, chief executive officer of Costain, commented:
"Having now worked with Southern Water through the previous four
regulatory AMP cycles, this contract extension is further testimony
to the value of our long-term, strategic relationship. Together
with our joint venture partner MWH Treatment, we will use our full
range of integrated services to continue to deliver innovative
efficient solutions to Southern Water to ensure we support them in
meeting their regulatory obligations and the provision of excellent
service to its customers whilst adding value to the communities and
environment it operates in."
Neil Colman, director of engineering and construction, Southern
Water commented:
"We are delighted to continue our close relationship with
Costain and MWH Treatment to deliver our hugely ambitious plans for
the next AMP. We fully expect the delivery of our PR19 programme to
be challenging and require large efficiency gains. Only with
partners as committed as we are to delivering smart solutions can
we be sure of securing a resilient water future for the South
East"
ENDS
Notes to Editor
Costain helps to improve people's lives with integrated, leading
edge, smart infrastructure solutions across the UK's energy, water,
transportation and defence markets. We help our clients improve
their business performance by increasing capacity, improving
customer service, safeguarding security, enhancing resilience,
decarbonising and delivering increased efficiency. Our vision is to
be the UK's leading smart infrastructure solutions company. We will
achieve this by focusing on blue chip clients whose major spending
plans are underpinned by strategic national needs, regulatory
commitments, legislation or essential performance requirements. We
offer our clients leading edge solutions that are digitally
optimised through the following five services which cover the whole
lifecycle of their assets: future-shaping strategic consultancy;
consultancy and advisory; digital technology solutions; asset
optimisation and complex programme delivery. Our culture and values
underpin everything we do.
For more information visit www.costain.com
Enquiries:
Costain
Tel: 01628 842 444
Alex Vaughan, Chief Executive Officer
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
Emily Smart
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END
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