31st Jul 2007 14:44
Costain Group PLC31 July 2007 Costain Group PLC("Costain" or the "Group") Concession to develop Marina in Spain Costain is pleased to announce that Alcaidesa Servicios SL, a wholly ownedsubsidiary of Alcaidesa Holding SA ("Alcaidesa"), the Spanish developmentcompany in which Costain holds a 50% interest, has been granted consent to builda yacht marina and commercial centre at La Linea de la Concepcion, immediatelyadjacent to the border with Gibraltar. The Port Authority of Algeciras has granted Alcaidesa a 30-year concession overa 286,000 sq m area in which Alcaidesa will develop an 800-berth marina and14,000 sq m retail zone, as well as a 763 space car park and 20,000 sq m yachtrepair facility. The marina is within the existing sea wall of the Bay ofAlgeciras, close to the town centre and only a few minutes walk from Gibraltarairport. It is expected that construction will start early in 2008. Andrew Wyllie, Chief Executive of Costain, commented: "We are delighted to have been awarded the concession, which expands ourproperty development activities in Spain as well as our presence in the Marinesector. The marina is ideally located to meet the forecast growth in demand foryacht berths, boosted recently by the opening up of Gibraltar airport to flightsfrom Spain and elsewhere in Europe. This is likely to increase even furtheronce the new terminal and runway extension have been built." 31 July 2007 ENQUIRIES:Costain Group PLC Tel: 01628 842 444Andrew Wyllie, Chief ExecutiveTony Bickerstaff, Finance DirectorGraham Read, Public Relations College Hill Tel: 020 7457 2020Mark Garraway Matthew Gregorowski This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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