Costain secures Lewisham BSF contract


 

TIDMCOST 
 
RNS Number : 2304R 
Costain Group PLC 
18 August 2010 
 

Costain Group PLC 
 ("Costain" or "the Company") 
 
Costain secures financial close on Lewisham BSF school rebuild contract 
 
Costain has been appointed by Lewisham Council to rebuild Deptford Green School 
after financial close was reached on the GBP28.6 million Building Schools for 
the Future ('BSF') project. The school is to be delivered under the Private 
Finance Initiative by Learning21, a consortium that includes Costain, Babcock 
International and Building Schools for the Future Investments LLP. Funding is to 
be provided by Aviva Commercial Finance Limited. 
 
Thirteen hundred pupils, teachers and staff will move into their new school in 
September 2012, and local residents and community organisations will be able to 
access the brand new sports and conference facilities outside normal school 
hours. This means that the new building, like other schools in the borough, will 
become a key resource for the local community. 
 
This latest contract is an integral part of Lewisham Council's Building Schools 
for the Future (BSF) programme, which has already delivered two new schools, has 
another school under construction and a number of new and refurbished schools 
progressing towards financial close. 
 
Commenting on the award, Andrew Wyllie, the Chief Executive of Costain, said: 
 
"We are delighted to be involved in this BSF contract and our continued 
involvement with Lewisham Council which, through our Local Education 
Partnership, aims to further improve education provision in the Lewisham area." 
 
18 August 2010 
 
 
Enquiries: 
 
+---------------------------+------------------------+ 
| Costain Group PLC         |      Tel: 01628 842444 | 
+---------------------------+------------------------+ 
| Graham Read,              |                        | 
| Communications Director   |                        | 
|                           |                        | 
+---------------------------+------------------------+ 
| College Hill              |     Tel: 020 7457 2020 | 
+---------------------------+------------------------+ 
| Mark Garraway             |                        | 
+---------------------------+------------------------+ 
| Adam Aljewicz             |                        | 
+---------------------------+------------------------+ 
 
 
Notes to Editors 
 
Costain is one of the UK's leading construction and engineering companies and is 
currently at the forefront of the drive to develop and improve the nation's 
infrastructure. 
 
In its targeted sectors, Costain is playing a major role in the provision of new 
facilities for a range of sectors ranging from waste to transport. The Company's 
strategy is entitled 'Choosing Costain'  and everyone in the organisation is 
committed to making Costain the automatic choice in terms of both business and 
technical excellence. 
 
Costain's origins date back to 1865. Since then the Company has featured in some 
of the world's major construction projects including the Channel Tunnel. Now the 
Company focuses on specific sectors within three divisions: Infrastructure - 
Highways, Rail, Airports and Nuclear sectors; Environment - Water, Waste, Marine 
and Education sectors; Energy & Process - Nuclear Process, Power and 
Hydrocarbons & Chemicals sectors. 
 
Costain currently has a strong order book. Significant contract awards include 
the GBP397 million contract (design, construction and commissioning of 44 
different facilities) for the Greater Manchester Waste Disposal Authority. In 
addition, Costain has won (as part of the 4D consortium) a GBP225 million 
contract with Southern Water to manage the design and build of a new wastewater 
treatment works in the Brighton and Hove area. Costain is also heavily involved 
in the Nuclear sector and in the Summer 2009 announced the award of a GBP297 
million contract for full Engineering, Procurement, Construction and Inactive 
Commissioning of the Evaporator D project at Sellafield. 
 
The Company's status was underlined at the Construction News 2009 Quality Awards 
when Costain won the Supreme Award for best overall performance. More recently, 
the Company was named 'Contractor of the Decade' by New Civil Engineer at the 
magazine's annual awards in London in August 2010. 
 
For further information please visit : http://www.costain.com/ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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