REG - Costain Group PLC - Re Contract <Origin Href="QuoteRef">COSG.L</Origin>

CostainAnnouncement

17/12/2015 07:11

RNS Number : 3676J
Costain Group PLC
17 December 2015
Costain Group PLC
("Costain" or "the Group")
17 December 2015
Award of major Asset Support Contracts from Highways England
Preferred bidder status secured from East Sussex County Council
Highways England Awards
Costain, the engineering solutions provider, is pleased to announce that it has been awarded by Highways England two new key Asset Support Contracts ('ASCs') which cover the long-term maintenance and development of highways on the country's Trunk Road Network. The ASCs are worth some 750 million over five years and have been awarded in joint venture partnership with Costain sharing a third of the value.
The ASCs are for Area 4 (Sussex and Kent) and Area 12 (Yorkshire and Humberside) and will both run from June 2016 for five years with the potential for a three-year extension. 
In both areas, the joint venture will deliver asset management and maintenance services on key elements of Highways England's strategic network.
East Sussex Award
Costain is also pleased to announce that it has secured, in a 50:50 joint venture partnership, preferred bidder status from East Sussex County Council for a seven-year 300 million contract to provide a comprehensive design, maintenance and improvement service covering over 2,000 miles of highways in the county.

The contract, subject to formal award in January 2016, is scheduled to commence on 1 May 2016 following a four-month mobilisation phase.

Andrew Wyllie CBE, Chief Executive of Costain, commented:
"We are delighted to have secured these significant new contracts from Highways England and to have been awarded preferred bidder status from East Sussex County Council.
"These awards demonstrate our established reputation for the provision of complex asset support services based on our proven ability to provide collaborative, integrated teams for the highway market and also reflect our focus on building long term partnerships with blue chip customers".
Enquiries:
Costain
Tel: 01628 842 444
Andrew Wyllie CBE, Chief Executive
Tony Bickerstaff, Finance Director
Graham Read, Communications Director
Catherine Warbrick, Investor Relations Director
Instinctif Partners
Tel: 020 7457 2020
Mark Garraway
Helen Tarbet
James Gray

This information is provided by RNS
The company news service from the London Stock Exchange
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