Costain wins Crossrail contract for works on London's Bond Street station

Engineering group Costain has scored a 110m pound contract from Crossrail to construct the main works at London's Bond Street station.

Engineering group Costain has scored a 110m pound contract from Crossrail to construct the main works at London's Bond Street station.

In a joint venture with Skanska, the two will work on the platform fit-out and mechanical and electrical services for the Western Ticket Hall in Davies Street and the Eastern Ticket Hall in Hanover Square.

Work will commence this month and is expected to be completed in February 2017 ahead of Crossrail's opening in 2018.

It follows on from the contract already awarded to the joint venture and the announcement in March 2011 for the initial construction of the structure of the station.

"This contract awarded to Costain by Crossrail is, we believe, further demonstration of the successful implementation of our 'Choosing Costain' strategy, in which we focus on building long term relationships with and winning repeat works from blue chip customers who are spending billions on meeting vital infrastructure needs," Chief Executive of Costain, Andrew Wyllie said.

"This contract further contributes to the strength of our order book, which comprises approximately 90% repeat business."

Shares rose 3.90% to 273.25p at 9:30 Monday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The Bank of England should create a "Bitpound" digital currency and take the world by storm
Bitcoin

The Bank of England should create a "Bitpound" digital currency and take the world by storm

The Bank of England could win the race to create a respectable digital currency if it moves quickly, says Matthew Lynn.
18 Oct 2020
Don’t miss this bus: take a bet on National Express
Trading

Don’t miss this bus: take a bet on National Express

Bus operator National Express is cheap, robust and ideally placed to ride the recovery. Matthew Partridge explains how traders can play it.
19 Oct 2020
Three stocks that can cope with Covid-19
Share tips

Three stocks that can cope with Covid-19

Professional investor Zehrid Osmani of the Martin Currie Global Portfolio Trust, picks three stocks that he thinks should be able to weather the coron…
12 Oct 2020