22nd Jun 2023 12:03
(Alliance News) - Costain Group PLC on Thursday said it has been awarded a share on a GBP485 million works programme.
The construction and engineering firm said it has been chosen for a six-year framework by Magnox Ltd.
Magnox is a nuclear decommissioning site licence company, which is a direct subsidiary of the UK's Nuclear Decommissioning Authority.
Costain will support Magnox across 11 sites, and deliver its decommissioning programme through to 2029.
The work programme will help clean up the UK's nuclear waste and reduce the environemntal impact of the site. It will also help the NDA deliver on its strategic goals.
Costain said it has secured a position on Lot 1 and 2 of the framework.
"Our previous work across the Magnox fleet has been instrumental in moving sites towards Care and Maintenance - essentially de-fuelling, decommissioning and creating safestores. This work represents a significant milestone along the decommissioning journey towards eventual final site clearance," commented Sam White, Costain Natural Resources managing director.
Shares in Costain were up 2.3% at 44.40 pence each in London on Thursday at midday.
The stock is down 12% over the past month. Its share had come under pressure in early June, when the company confirmed it had been dropped from the A66 Northern Trans-Pennine scheme in northern England.
Costain had been one of four contractors selected by National Highways for the GBP1.3 billion project.
By Elizabeth Winter, Alliance News senior markets reporter
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