Costain Group PLC Re Contract (1387I)

TIDMCOST

RNS Number : 1387I

Costain Group PLC

23 March 2015

Costain Group PLC

("Costain" or "the Group")

Costain JV secures ECI Development of GBP750m Welsh Government M4 Corridor around Newport

Costain, the engineering solutions provider, is pleased to announce that it has been appointed by the Welsh Government to provide design development of the M4 Corridor around Newport. Costain has a 50% stake in a three way joint venture with Vinci Construction Grands Projets and Taylor Woodrow.

The proposals would include 24km of new motorway and a 2.5 km long cable-stayed viaduct crossing of the River Usk, as well as major remodelling of M4 junctions 23 and 29.

The project would form part of the strategic roads network, and deliver government aims for a more efficient, safer and sustainable transport network, supporting and encouraging long-term prosperity in the region.

Scheme development work will commence immediately, leading up to an anticipated Public Local Inquiry in winter 2016/7. Upon successful completion of the statutory processes, the second stage of the ECI work, construction, could start in spring 2018.

Andrew Wyllie, Chief Executive of Costain, commented:

"We are delighted to be developing this critical infrastructure scheme for the Welsh Government.

"This award is further demonstration of the importance to Costain of long-term strategic partnerships with our Customers, and our ability to deliver integrated consulting and project delivery services."

23 March 2015

Enquiries:

 
 Costain                            Tel: 01628 842 444 
 Andrew Wyllie, Chief Executive 
 Tony Bickerstaff, Finance 
  Director 
 Catherine Warbrick, Investor 
  Relations 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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