16th Oct 2019 08:14
(Alliance News) - Costain Group PLC has won a GBP325 million contract with Southern Water, the infrastructure firm announced on Wednesday.
The contract has been awarded to Costain and joint venture partner MWH Treatment. It lasts for five years, beginning April 2020, and the GBP325 million value will be split equally between Costain and MWH.
Costain and MWH will work on Southern Water's water supply and wastewater treatment operations, as part of the utility's "multi-billion" pound business plan for 2020 to 2025.
Costain Chief Executive Alex Vaughan said: "Having now worked with Southern Water through the previous four regulatory AMP cycles, this contract extension is further testimony to the value of our long-term, strategic relationship.
"Together with our joint venture partner MWH Treatment, we will use our full range of integrated services to continue to deliver innovative efficient solutions to Southern Water to ensure we support them in meeting their regulatory obligations and the provision of excellent service to its customers whilst adding value to the communities and environment it operates in."
Costain shares were down 1.3% in early trade in London on Wednesday at a price of 172.20 pence each.
By George Collard; [email protected]
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