Costain wins two new contracts

The engineering firm Costain took the high road on Friday morning after reporting two contract wins.

The first is worth £102m, split equally between joint venture partners Costain, Lagan Construction and Ferrovial Agroman, for the design and construction of the A8 dual carriageway, connecting Belfast to Larne in Northern Ireland.

Separately, Costain has also been appointed as preferred bidder by Severn Trent Water to replace its largest covered service reservoir at Fritchley, Derbyshire, in a project worth around £27m.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

A planning application has been submitted and is currently under consideration by the local planning authority. Once approved, work is due to begin on site in January 2013 for four years, with some early enabling works taking place in the coming months.

The stock had gained 3.3% by 8:33.

NR