12th Mar 2007 08:25
Costain Group PLC12 March 2007 Costain Group PLC("Costain" or the "Group") Major Education Contract Award The Board of Costain announces that its joint venture partnership with VT Group("Learning21") has secured preferred bidder status on a 25-year £400 millionschools partnership contract for the London Borough of Lewisham. The contractincludes an initial priority capital expenditure programme of over £210 millionon school refurbishment and rebuilding through PFI and traditional forms ofcontract. The contract in Lewisham is part of the Government's Building Schools for theFuture ("BSF") programme, an initiative to rebuild, refurbish and re-equip allsecondary schools in England. Detailed negotiations have commenced with a view to agreeing a final contractlater this year. Learning21 will manage the procurement and supply chain to deliver the majorrefurbishment or renewal of 12 secondary schools, including three special needsschools, in the Borough. This will involve construction, to be carried out byCostain, and the provision of ICT, support services and facilities management,which will be the responsibility of VT Group. Construction and refurbishment of the schools should be completed by 2013. This is Costain's second success in the BSF programme having achieved financialclose on the Bradford Project in December 2006. Commenting on the award, Andrew Wyllie, Chief Executive of Costain, said: "We are delighted to have secured preferred bidder status on this major project. The award is evidence of the benefits of focusing on key sectors as part ofour Being Number One strategy, and significantly strengthens our presence inEducation having recently reached financial close on Bradford BSF." 12 March 2007 Enquiries:Costain Tel: 01628 842 444Andrew Wyllie, Chief ExecutiveTony Bickerstaff, Finance DirectorGraham Read, Public Relations College Hill Tel: 020 7457 2020Mark GarrawayMatthew Gregorowski This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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