Marina development

RNS Number:2220B
Costain Group PLC
31 July 2007


Costain Group PLC
("Costain" or the "Group")

Concession to develop Marina in Spain

Costain is pleased to announce that Alcaidesa Servicios SL, a wholly owned
subsidiary of Alcaidesa Holding SA ("Alcaidesa"), the Spanish development
company in which Costain holds a 50% interest, has been granted consent to build
a yacht marina and commercial centre at La Linea de la Concepcion, immediately
adjacent to the border with Gibraltar.

The Port Authority of Algeciras has granted Alcaidesa a 30-year concession over
a 286,000 sq m area in which Alcaidesa will develop an 800-berth marina and
14,000 sq m retail zone, as well as a 763 space car park and 20,000 sq m yacht
repair facility.  The marina is within the existing sea wall of the Bay of
Algeciras, close to the town centre and only a few minutes walk from Gibraltar
airport.  It is expected that construction will start early in 2008.

Andrew Wyllie, Chief Executive of Costain, commented:

"We are delighted to have been awarded the concession, which expands our
property development activities in Spain as well as our presence in the Marine
sector.  The marina is ideally located to meet the forecast growth in demand for
yacht berths, boosted recently by the opening up of Gibraltar airport to flights
from Spain and elsewhere in Europe.  This is likely to increase even further
once the new terminal and runway extension have been built."



                                                                    31 July 2007

ENQUIRIES:
Costain Group PLC                                       Tel: 01628 842 444
Andrew Wyllie, Chief Executive
Tony Bickerstaff, Finance Director
Graham Read, Public Relations

College Hill                                            Tel: 020 7457 2020
Mark Garraway

Matthew Gregorowski



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

Costain (LSE:COST)
過去株価チャート
から 6 2024 まで 7 2024