Engineering group Costain said it had secured three additional highways contracts worth a minimum of 15 million pounds.
The first, a four-year technology contract, is for the maintenance of Road Network Communications and Tunnel Systems across Wales and worth around £15m.
It involves routine maintenance and fault repair of technology systems such as CCTV cameras, variable messaging signs, emergency telephones and traffic signals and includes the strategic routes of the M4, A55, and Conwy tunnels.
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
Costain will commence the new service in early 2013, following a transition and handover period.
The company has also been appointed onto both North and South lots of the Highways Agency Asset Support Framework.
The framework allows the Agency to call on suppliers, including Costain, for larger maintenance schemes and improvement works, up to the value of £15m each.
There is no commitment by the Agency to spend under the framework, but Costain said over £750m of work packages were expected to be awarded through it over the next three years.
-
Should you invest in UK equities?The FTSE 100 hit a record high this week, but UK equities remain unloved and undervalued compared to their global and US peers. Should you snap them up at a discount?
-
State pension errors: DWP urged to check for mistakes among divorced peopleFormer pensions minister Steve Webb says there are a high number of divorced women on low state pensions. Now MPs want the DWP to check if there were any errors in “potentially underpaying men and women who are divorced”.
