Support services and construction group Interserve has been awarded a three-year management contract with nuclear power station operator Magnox.
Magnox, which operates ten of the UK's nuclear power stations, said the contract is valued in excess of £80m and includes an option to extend for a further three years.
"This is the first time that Magnox has chosen to outsource all of its facilities management requirements across the estate to a single supplier under one contract agreement - a move which will not only reduce costs but also ensures the highest standards of safety and quality control," Interserve said in a company statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The FTSE 250-listed support services and construction group said it will provide services including mechanical and engineering maintenance, catering, cleaning, office services, grounds maintenance and civil works.
The contract, which starts the first phase in April 2013, includes ten sites throughout the UK, and covers 450 acres and supports over 4,000 Magnox employees and contractors.
Interserve managing director Guy Bruce said: "This is a really exciting opportunity for Interserve because not only does it significantly expand our capabilities in the sector, it gives us a footprint on many of the UK's nuclear sites."
CJ
-
Trouble brews in B&M as bargain shops take a hitOpinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in LondonThe US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?
