COSTAIN GROUP PLC — Capital/Financing Update 2014

Nov 10, 2014

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RNS Number : 5564W

Costain Group PLC

10 November 2014

Costain Group PLC

("Costain" or "the Group")

Costain secures place on Highways Agency Collaborative Delivery Framework

Costain, the engineering solutions provider, is pleased to announce that it has secured a place on the Highways Agency's five-year £5.0 billion Collaborative Delivery Framework, the largest ever framework for the improvement of England's motorways and major A roads.

Costain is one of five organisations appointed to Lot 3b for major projects valued between £100 and £450 million.  The total value of Lot 3b within the overall Framework is anticipated to be circa £3.0 billion. 

The Framework will carry out critical infrastructure projects, expected to include the technology-led Smart Motorways programme, and complex schemes such as the A14 Cambridge to Huntington.

Andrew Wyllie, Chief Executive of Costain, commented:

"The upgrading of our highways network is essential to improving connectivity between the various regions of the UK, and we are delighted to have secured a place on this important Framework.

"This award demonstrates the increasingly strategic nature of our long-term customer relationships, which has resulted in an order book comprising high quality repeat business with long term visibility and low risk."

10 November 2014

Enquiries:

Costain	Tel: 01628 842 444
Andrew Wyllie, Chief Executive
Tony Bickerstaff, Finance Director
Graham Read, Communications Director
Instinctif Partners	Tel: 020 7457 2020
Mark Garraway
Helen Tarbet

This information is provided by RNS

The company news service from the London Stock Exchange

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